Boston Scientific Co. (NYSE:BSX) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,562 shares of the medical equipment provider’s stock after selling 394 shares during the period. Apollon Wealth Management LLC’s holdings in Boston Scientific were worth $1,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Foundation Advisors purchased a new position in Boston Scientific in the first quarter valued at $25,000. Triad Wealth Partners LLC purchased a new position in Boston Scientific in the second quarter valued at $26,000. Values First Advisors Inc. purchased a new position in Boston Scientific in the third quarter valued at $28,000. Andra AP fonden purchased a new position in Boston Scientific in the second quarter valued at $29,000. Finally, Lynx Investment Advisory purchased a new position in Boston Scientific in the second quarter valued at $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

NYSE:BSX opened at $87.59 on Friday. The company’s 50-day moving average is $85.03 and its two-hundred day moving average is $79.33. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 1-year low of $53.56 and a 1-year high of $89.30. The firm has a market capitalization of $129.09 billion, a price-to-earnings ratio of 72.39, a PEG ratio of 2.61 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data 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. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period in the prior year, the business posted $0.50 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BSX. BTIG Research lifted their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Stifel Nicolaus boosted their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Bank of America boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Sanford C. Bernstein boosted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Transactions at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 9.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 309,270 shares of company stock worth $26,196,718. 0.50% of the stock is currently owned by insiders.

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.