Seven Eight Capital LP Has $791,000 Holdings in Boston Scientific Co. (NYSE:BSX)

Seven Eight Capital LP cut its stake in Boston Scientific Co. (NYSE:BSX) by 88.3% in the first quarter, Holdings Channel.com reports. The firm owned 11,555 shares of the medical equipment provider’s stock after selling 87,581 shares during the quarter. Seven Eight Capital LP’s holdings in Boston Scientific were worth $791,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. First Foundation Advisors acquired a new position in shares of Boston Scientific during the 1st quarter worth about $25,000. Eagle Bay Advisors LLC boosted its stake in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares during the last quarter. RiverPark Advisors LLC acquired a new position in shares of Boston Scientific during the 1st quarter worth about $30,000. Northwest Investment Counselors LLC acquired a new stake in Boston Scientific in the 1st quarter valued at about $31,000. Finally, YHB Investment Advisors Inc. acquired a new stake in Boston Scientific in the 1st quarter valued at about $32,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Up 0.4 %

BSX traded up $0.32 during midday trading on Tuesday, hitting $78.59. The company had a trading volume of 6,701,498 shares, compared to its average volume of 6,186,285. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $79.43. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $115.30 billion, a price-to-earnings ratio of 65.76, a PEG ratio of 2.67 and a beta of 0.78. The stock’s 50 day moving average price is $76.32 and its 200 day moving average price is $69.98.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. On average, research analysts anticipate that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BSX shares. The Goldman Sachs Group started coverage on shares of Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 target price for the company. TD Cowen raised their target price on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Mizuho raised their target price on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Robert W. Baird boosted their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, Truist Financial boosted their target price on shares of Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.29.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the sale, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the sale, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction dated 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 directly owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The disclosure for this sale can be found here. Insiders sold a total of 72,259 shares of company stock valued at $5,344,014 over the last three months. Corporate insiders own 0.50% of the company’s stock.

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.