Evermay Wealth Management LLC Sells 374 Shares of Boston Scientific Co. (NYSE:BSX)

Evermay Wealth Management LLC lessened its holdings in Boston Scientific Co. (NYSE:BSX) by 47.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 419 shares of the medical equipment provider’s stock after selling 374 shares during the period. Evermay Wealth Management LLC’s holdings in Boston Scientific were worth $29,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BSX. Eagle Bay Advisors LLC grew its position in Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. First Foundation Advisors bought a new position in Boston Scientific in the first quarter valued at about $25,000. RiverPark Advisors LLC bought a new position in Boston Scientific in the first quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new position in Boston Scientific in the first quarter valued at about $31,000. Finally, Sachetta LLC bought a new position in Boston Scientific in the fourth quarter valued at about $32,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 4.5 %

BSX traded down $3.50 during trading on Thursday, hitting $74.26. The company’s stock had a trading volume of 10,900,652 shares, compared to its average volume of 6,285,901. The firm has a market capitalization of $108.95 billion, a P/E ratio of 62.40, a PEG ratio of 2.70 and a beta of 0.78. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $79.43. The stock’s fifty day moving average price is $76.48 and its 200-day moving average price is $70.20. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 earnings per share. Analysts anticipate that Boston Scientific Co. will post 2.32 EPS for the current year.

Insider Activity

In other news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,620,617. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the sale, the director now owns 41,374 shares in the company, valued at $3,032,300.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,620,617. The disclosure for this sale can be found here. Insiders sold a total of 72,259 shares of company stock worth $5,344,014 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BSX has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Needham & Company LLC lifted their price target on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday. Barclays lifted their price target on Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Citigroup lifted their price target on Boston Scientific from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, UBS Group lifted their price target on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and an average price target of $84.76.

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.