Shepherd Financial Partners LLC Sells 1,353 Shares of Boston Scientific Corporation (NYSE:BSX)

Shepherd Financial Partners LLC lessened its holdings in Boston Scientific Corporation (NYSE:BSX) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,371 shares of the medical equipment provider’s stock after selling 1,353 shares during the period. Shepherd Financial Partners LLC’s holdings in Boston Scientific were worth $2,156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after purchasing an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after acquiring an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Boston Scientific by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock worth $2,729,371,000 after acquiring an additional 1,041,329 shares in the last quarter. Capital World Investors grew its position in Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock worth $2,492,041,000 after acquiring an additional 6,216,199 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Boston Scientific by 2.5% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider’s stock valued at $1,992,994,000 after purchasing an additional 554,388 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. BTIG Research restated a “buy” rating and issued a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. Leerink Partners assumed coverage on shares of Boston Scientific in a research report on Monday. They issued an “outperform” rating and a $118.00 price objective for the company. Truist Financial upped their target price on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Argus set a $130.00 price target on shares of Boston Scientific in a report on Tuesday, February 18th. Finally, Leerink Partnrs upgraded shares of Boston Scientific to a “strong-buy” rating in a research report on Monday. Twenty-two analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Buy” and an average target price of $116.09.

Boston Scientific Stock Up 0.2%

Boston Scientific stock opened at $101.72 on Wednesday. The firm has a market capitalization of $150.49 billion, a price-to-earnings ratio of 74.25, a PEG ratio of 2.62 and a beta of 0.68. The company’s 50 day simple moving average is $101.35 and its 200 day simple moving average is $98.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The company had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the firm posted $0.56 earnings per share. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,572 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the sale, the executive vice president now directly owns 18,705 shares of the company’s stock, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the transaction, the executive vice president now owns 178,342 shares of the company’s stock, valued at approximately $18,347,824.96. This trade represents a 24.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 411,970 shares of company stock valued at $42,406,693. Company insiders own 0.50% of the company’s stock.

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.