Sivik Global Healthcare LLC Has $8.80 Million Stake in Boston Scientific Co. (NYSE:BSX)

Sivik Global Healthcare LLC decreased its position in Boston Scientific Co. (NYSE:BSX) by 8.7% during the third quarter, HoldingsChannel reports. The firm owned 105,000 shares of the medical equipment provider’s stock after selling 10,000 shares during the quarter. Boston Scientific comprises approximately 3.7% of Sivik Global Healthcare LLC’s holdings, making the stock its 8th biggest position. Sivik Global Healthcare LLC’s holdings in Boston Scientific were worth $8,799,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BSX. Eagle Bay Advisors LLC raised its holdings in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares during the period. First Foundation Advisors bought a new position in shares of Boston Scientific in the first quarter worth about $25,000. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific during the 2nd quarter worth about $26,000. Values First Advisors Inc. bought a new stake in Boston Scientific during the 3rd quarter valued at approximately $28,000. Finally, Andra AP fonden acquired a new stake in Boston Scientific in the 2nd quarter valued at approximately $29,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of BSX stock opened at $88.28 on Thursday. The stock’s fifty day moving average is $85.03 and its 200-day moving average is $79.33. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a 52 week low of $53.56 and a 52 week high of $89.30. The stock has a market capitalization of $130.11 billion, a PE ratio of 73.36, a PEG ratio of 2.61 and a beta of 0.79.

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 during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the company posted $0.50 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts expect that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BSX shares. JPMorgan Chase & Co. increased their price objective on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Sanford C. Bernstein increased their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Bank of America upped their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI lifted their target price on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Insiders Place Their Bets

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is currently owned by corporate insiders.

About Boston Scientific

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.