Legacy Wealth Asset Management LLC Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

Legacy Wealth Asset Management LLC cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,125 shares of the medical equipment provider’s stock after selling 933 shares during the period. Boston Scientific comprises approximately 0.6% of Legacy Wealth Asset Management LLC’s holdings, making the stock its 26th largest position. Legacy Wealth Asset Management LLC’s holdings in Boston Scientific were worth $2,333,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Investment Management Corp VA ADV bought a new stake in shares of Boston Scientific during the 4th quarter valued at $25,000. Colonial Trust Co SC grew its position in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 260 shares during the period. TFC Financial Management Inc. grew its position in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares during the period. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific during the 4th quarter valued at $26,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Boston Scientific during the 4th quarter valued at $31,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 0.6%

BSX opened at $105.08 on Friday. The firm has a 50-day simple moving average of $100.29 and a two-hundred day simple moving average of $97.95. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a market capitalization of $155.46 billion, a PE ratio of 84.06, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The business’s revenue was up 20.9% on a year-over-year basis. Analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Citigroup reissued a “buy” rating and set a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Truist Financial boosted their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Argus set a $130.00 target price on shares of Boston Scientific in a report on Tuesday, February 18th. Finally, Evercore ISI upped their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Twenty-one research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific has an average rating of “Buy” and an average target price of $116.00.

Insider Activity

In other news, EVP Arthur C. Butcher sold 17,314 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the sale, the executive vice president now directly owns 22,235 shares in the company, valued at approximately $2,269,304.10. This represents a 43.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,155 shares of company stock worth $19,556,047. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Company 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.