Armstrong Advisory Group Inc. Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

Armstrong Advisory Group Inc. decreased its stake in Boston Scientific Co. (NYSE:BSX) by 15.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,078 shares of the medical equipment provider’s stock after selling 724 shares during the period. Armstrong Advisory Group Inc.’s holdings in Boston Scientific were worth $364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Values First Advisors Inc. purchased a new stake in Boston Scientific in the third quarter valued at approximately $28,000. Dunhill Financial LLC increased its holdings in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the period. Global Wealth Strategies & Associates raised its stake in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC purchased a new position in Boston Scientific in the 4th quarter valued at $29,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific during the 3rd quarter worth approximately $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Evercore ISI increased their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Sanford C. Bernstein lifted their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Bank of America increased their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $97.26.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,989 shares of company stock worth $2,702,261. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 1.3 %

Shares of BSX opened at $96.87 on Thursday. The firm has a market cap of $142.77 billion, a PE ratio of 80.06, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average is $90.36 and its two-hundred day moving average is $84.15. Boston Scientific Co. has a fifty-two week low of $59.61 and a fifty-two week high of $97.36.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. Analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.