Boston Scientific Corporation $BSX Holdings Trimmed by Sei Investments Co.

Sei Investments Co. reduced its position in shares of Boston Scientific Corporation (NYSE:BSX) by 53.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,021,347 shares of the medical equipment provider’s stock after selling 1,185,973 shares during the period. Sei Investments Co.’s holdings in Boston Scientific were worth $64,089,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC raised its holdings in shares of Boston Scientific by 0.8% in the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock worth $2,445,000 after purchasing an additional 226 shares in the last quarter. FWL Investment Management LLC bought a new stake in Boston Scientific during the second quarter worth approximately $26,000. Main Street Financial Solutions LLC boosted its holdings in Boston Scientific by 35.3% during the second quarter. Main Street Financial Solutions LLC now owns 7,556 shares of the medical equipment provider’s stock worth $812,000 after buying an additional 1,971 shares in the last quarter. Ieq Capital LLC grew its holdings in shares of Boston Scientific by 97.0% in the 2nd quarter. Ieq Capital LLC now owns 123,592 shares of the medical equipment provider’s stock worth $13,275,000 after acquiring an additional 60,860 shares during the last quarter. Finally, HUB Investment Partners LLC increased its stake in Boston Scientific by 56.2% in the 2nd quarter. HUB Investment Partners LLC now owns 7,102 shares of the medical equipment provider’s stock worth $763,000 after purchasing an additional 2,556 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Trading Up 1.6%

Shares of NYSE BSX opened at $44.26 on Friday. The business has a 50 day simple moving average of $47.21 and a 200 day simple moving average of $64.06. Boston Scientific Corporation has a 52 week low of $42.20 and a 52 week high of $109.50. The stock has a market cap of $65.78 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.85 and a beta of 0.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.19 billion. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. On average, research analysts predict that Boston Scientific Corporation will post 3.35 earnings per share for the current fiscal year.

Boston Scientific declared that its Board of Directors has approved a share buyback plan on Monday, May 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BSX shares. Wolfe Research lowered Boston Scientific from an “outperform” rating to a “peer perform” rating in a research report on Friday, May 29th. Needham & Company LLC lowered their price objective on shares of Boston Scientific from $77.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Stifel Nicolaus dropped their price objective on shares of Boston Scientific from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. Royal Bank Of Canada cut their target price on shares of Boston Scientific from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Finally, Canaccord Genuity Group dropped their price target on shares of Boston Scientific from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $79.84.

Insider Transactions at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig acquired 3,580 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $56.68 per share, for a total transaction of $202,914.40. Following the completion of the acquisition, the director owned 25,359 shares of the company’s stock, valued at approximately $1,437,348.12. This trade represents a 16.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cheryl Pegus bought 1,770 shares of the stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the transaction, the director directly owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. The trade was a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 9,800 shares of company stock worth $554,012 in the last 90 days. 0.34% of the stock is owned by insiders.

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.