Boston Scientific Corporation $BSX Holdings Trimmed by Cavalier Investments LLC

Cavalier Investments LLC lowered its position in shares of Boston Scientific Corporation (NYSE:BSX) by 51.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,288 shares of the medical equipment provider’s stock after selling 53,550 shares during the quarter. Boston Scientific accounts for approximately 1.6% of Cavalier Investments LLC’s investment portfolio, making the stock its 15th largest position. Cavalier Investments LLC’s holdings in Boston Scientific were worth $5,401,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Sound Income Strategies LLC boosted its stake in Boston Scientific by 90.9% during the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 120 shares in the last quarter. 1248 Management LLC bought a new position in Boston Scientific during the first quarter valued at about $26,000. Y.D. More Investments Ltd bought a new position in Boston Scientific during the first quarter valued at about $27,000. Princeton Global Asset Management LLC bought a new position in Boston Scientific during the second quarter valued at about $32,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in Boston Scientific during the second quarter valued at about $37,000. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $104.63, for a total value of $5,231,500.00. Following the transaction, the executive vice president owned 178,342 shares in the company, valued at $18,659,923.46. This represents a 21.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yoshiaki Fujimori sold 2,901 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total value of $310,377.99. Following the completion of the transaction, the director owned 2,081 shares in the company, valued at $222,646.19. This represents a 58.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,214 shares of company stock worth $17,972,457 over the last quarter. Company insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 0.6%

NYSE:BSX opened at $99.88 on Wednesday. The stock has a market cap of $148.00 billion, a PE ratio of 59.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61. Boston Scientific Corporation has a fifty-two week low of $80.64 and a fifty-two week high of $109.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.82. The stock’s 50-day moving average is $101.19 and its two-hundred day moving average is $101.83.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%.The firm’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. As a group, equities research analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on BSX. Truist Financial raised their target price on Boston Scientific from $125.00 to $129.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Boston Scientific in a research note on Wednesday, October 8th. Jefferies Financial Group restated a “hold” rating on shares of Boston Scientific in a report on Monday, July 21st. Canaccord Genuity Group boosted their price objective on Boston Scientific from $131.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, BTIG Research boosted their price objective on Boston Scientific from $127.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and a consensus target price of $121.61.

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.