Corton Capital Inc. Sells 678 Shares of Boston Scientific Co. (NYSE:BSX)

by · The Markets Daily

Corton Capital Inc. reduced its position in shares of Boston Scientific Co. (NYSE:BSX – Free Report) by 20.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,718 shares of the medical equipment provider’s stock after selling 678 shares during the quarter. Corton Capital Inc.’s holdings in Boston Scientific were worth $243,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BSX. TFC Financial Management Inc. increased its position in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares in the last quarter. West Oak Capital LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth $29,000. Valley National Advisers Inc. raised its stake in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 286 shares during the last quarter. Fairway Wealth LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at $36,000. Finally, Global Trust Asset Management LLC boosted its position in shares of Boston Scientific by 64.5% during the fourth quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider’s stock valued at $39,000 after buying an additional 171 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP John Bradley Sorenson sold 6,528 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $104.97, for a total value of $685,244.16. Following the completion of the sale, the executive vice president now directly owns 26,449 shares in the company, valued at $2,776,351.53. This trade represents a 19.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the transaction, the executive vice president now owns 22,235 shares in the company, valued at $2,269,304.10. This trade represents a 43.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 307,025 shares of company stock worth $31,742,060. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup boosted their target price on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Barclays increased their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Evercore ISI lifted their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Wells Fargo & Company increased their price target on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Raymond James lifted their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Twenty-three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $114.52.

Get Our Latest Analysis on BSX

Boston Scientific Stock Up 0.7 %

BSX opened at $104.81 on Thursday. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The stock has a market cap of $155.06 billion, a price-to-earnings ratio of 83.85, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The firm’s fifty day moving average is $98.73 and its 200 day moving average is $95.72.

Boston Scientific (NYSE:BSX – Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 EPS. On average, sell-side analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Boston Scientific Profile

(Free Report)

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.

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