Simplicity Wealth LLC Trims Stock Holdings in Boston Scientific Corporation $BSX

Simplicity Wealth LLC reduced its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 54.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,330 shares of the medical equipment provider’s stock after selling 21,884 shares during the period. Simplicity Wealth LLC’s holdings in Boston Scientific were worth $1,790,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Boston Scientific during the 2nd quarter worth approximately $2,089,937,000. Edgewood Management LLC bought a new position in shares of Boston Scientific in the second quarter worth approximately $746,655,000. Parnassus Investments LLC increased its stake in shares of Boston Scientific by 42,978.9% in the third quarter. Parnassus Investments LLC now owns 6,884,440 shares of the medical equipment provider’s stock worth $672,128,000 after purchasing an additional 6,868,459 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Boston Scientific by 14,391.8% during the 2nd quarter. Bessemer Group Inc. now owns 2,919,801 shares of the medical equipment provider’s stock valued at $313,618,000 after purchasing an additional 2,899,653 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Boston Scientific by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 137,134,110 shares of the medical equipment provider’s stock valued at $14,729,575,000 after buying an additional 2,545,381 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BSX. Needham & Company LLC reiterated a “buy” rating on shares of Boston Scientific in a research note on Thursday, January 15th. Royal Bank Of Canada boosted their price objective on Boston Scientific from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Wells Fargo & Company increased their target price on Boston Scientific from $124.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. TD Cowen reiterated a “buy” rating on shares of Boston Scientific in a research report on Thursday, December 11th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $112.00 price target on shares of Boston Scientific in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.89.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $101.55, for a total value of $1,758,135.15. Following the sale, the executive vice president directly owned 23,600 shares in the company, valued at $2,396,580. The trade was a 42.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the sale, the executive vice president owned 178,342 shares in the company, valued at $17,739,678.74. This represents a 21.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 93,095 shares of company stock worth $9,305,450. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

NYSE:BSX opened at $91.32 on Friday. The business’s 50-day moving average is $95.90 and its 200 day moving average is $99.95. Boston Scientific Corporation has a 12 month low of $85.98 and a 12 month high of $109.50. The company has a market capitalization of $135.38 billion, a P/E ratio of 48.83, a P/E/G ratio of 1.62 and a beta of 0.67. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The company’s revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. On average, equities research analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.