Lindbrook Capital LLC Sells 9,966 Shares of Boston Scientific Co. (NYSE:BSX)

Posted by Defense World Staff on Apr 7th, 2023

Boston Scientific logo Lindbrook Capital LLC trimmed its position in shares of Boston Scientific Co. (NYSE:BSX – Get Rating) by 83.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,033 shares of the medical equipment provider’s stock after selling 9,966 shares during the period. Lindbrook Capital LLC’s holdings in Boston Scientific were worth $94,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BSX. Acadian Asset Management LLC bought a new position in Boston Scientific during the 1st quarter valued at approximately $35,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Boston Scientific by 68.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,000 shares of the medical equipment provider’s stock valued at $39,000 after buying an additional 406 shares during the period. CVA Family Office LLC raised its holdings in shares of Boston Scientific by 952.6% during the third quarter. CVA Family Office LLC now owns 1,000 shares of the medical equipment provider’s stock valued at $39,000 after acquiring an additional 905 shares in the last quarter. Adirondack Trust Co. lifted its stake in Boston Scientific by 126.0% in the third quarter. Adirondack Trust Co. now owns 1,130 shares of the medical equipment provider’s stock worth $44,000 after acquiring an additional 630 shares during the period. Finally, Romano Brothers AND Company bought a new stake in Boston Scientific in the fourth quarter valued at $46,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays raised their target price on shares of Boston Scientific from $49.00 to $53.00 in a research report on Wednesday, January 4th. Citigroup lifted their price objective on Boston Scientific from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus increased their target price on Boston Scientific from $50.00 to $52.00 in a research report on Wednesday, February 1st. Morgan Stanley lifted their price target on Boston Scientific from $50.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. Finally, Raymond James increased their price objective on Boston Scientific from $54.00 to $56.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 2nd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Buy” and an average price target of $52.18.

Boston Scientific Stock Down 1.3 %

NYSE:BSX opened at $50.08 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.51. The firm has a market cap of $71.98 billion, a P/E ratio of 111.29, a P/E/G ratio of 2.34 and a beta of 0.79. Boston Scientific Co. has a fifty-two week low of $34.98 and a fifty-two week high of $50.87. The firm has a 50-day simple moving average of $47.75 and a two-hundred day simple moving average of $44.95.

Boston Scientific (NYSE:BSX – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The medical equipment provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.24 billion. Boston Scientific had a net margin of 5.50% and a return on equity of 14.29%. Boston Scientific’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $0.45 EPS. Analysts predict that Boston Scientific Co. will post 1.9 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP Jeffrey B. Mirviss sold 4,903 shares of the stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $50.40, for a total transaction of $247,111.20. Following the sale, the executive vice president now directly owns 78,673 shares of the company’s stock, valued at $3,965,119.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,903 shares of the company’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $50.40, for a total transaction of $247,111.20. Following the transaction, the executive vice president now owns 78,673 shares in the company, valued at approximately $3,965,119.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 4,000 shares of Boston Scientific stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $50.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president now owns 34,403 shares of the company’s stock, valued at $1,720,150. The disclosure for this sale can be found here. Insiders sold 135,788 shares of company stock worth $6,451,329 over the last quarter. 0.66% of the stock is currently owned by insiders.

Boston Scientific Company Profile

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Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical procedures. It operates through the MedSurg and Cardiovascular segments. The MedSurg segment includes Urology and Neuromodulation. The Cardiovascular segment consists of Cardiology and Peripheral Interventions.