Legacy Wealth Management LLC MS Sells 3,310 Shares of Boston Scientific Co. (NYSE:BSX)

Legacy Wealth Management LLC MS cut its holdings in Boston Scientific Co. (NYSE:BSX) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,255 shares of the medical equipment provider’s stock after selling 3,310 shares during the period. Boston Scientific makes up 1.9% of Legacy Wealth Management LLC MS’s investment portfolio, making the stock its 10th biggest holding. Legacy Wealth Management LLC MS’s holdings in Boston Scientific were worth $4,667,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Boston Scientific by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares during the last quarter. HWG Holdings LP acquired a new position in Boston Scientific during the 2nd quarter worth $482,000. Principal Financial Group Inc. boosted its holdings in Boston Scientific by 5.9% during the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock valued at $168,475,000 after acquiring an additional 111,724 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Boston Scientific by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock valued at $289,675,000 after purchasing an additional 30,636 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of Boston Scientific by 153.5% in the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock worth $16,541,000 after purchasing an additional 119,525 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded up $0.41 on Monday, reaching $91.10. The stock had a trading volume of 597,051 shares, compared to its average volume of 2,349,854. The company has a market cap of $134.27 billion, a P/E ratio of 75.29, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 1 year low of $57.77 and a 1 year high of $91.93. The business’s 50 day moving average is $88.98 and its two-hundred day moving average is $83.30. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating 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 analysts’ expectations of $4.04 billion. During the same quarter last year, the company posted $0.50 EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BSX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Morgan Stanley raised their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company increased their price objective on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.96.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction 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. This trade represents a 93.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is owned by corporate 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.