Alerus Financial NA Reduces Position in Boston Scientific Co. (NYSE:BSX)

Alerus Financial NA cut its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,400 shares of the medical equipment provider's stock after selling 7,207 shares during the quarter. Alerus Financial NA's holdings in Boston Scientific were worth $8,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TFC Financial Management Inc. grew its stake in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 210 shares during the last quarter. Dunhill Financial LLC raised its holdings in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider's stock worth $28,000 after buying an additional 152 shares during the last quarter. Global Wealth Strategies & Associates lifted its stake in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock worth $28,000 after buying an additional 250 shares in the last quarter. West Oak Capital LLC purchased a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $29,000. Finally, Valley National Advisers Inc. increased its position in shares of Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 286 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, CFO Daniel J. Brennan sold 67,333 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the completion of the sale, the chief financial officer now owns 225,808 shares of the company's stock, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their position. 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 1,201 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at $2,704,845.33. This represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock worth $14,319,269 in the last three months. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. StockNews.com downgraded Boston Scientific from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Wells Fargo & Company upped their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Morgan Stanley lifted their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Citigroup increased their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Raymond James lifted their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of "Moderate Buy" and an average price target of $108.91.

Boston Scientific Price Performance

BSX stock traded up $1.59 during trading on Monday, hitting $100.95. 5,454,553 shares of the company's stock traded hands, compared to its average volume of 6,061,336. The stock has a market capitalization of $149.30 billion, a price-to-earnings ratio of 80.76, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 52 week low of $66.80 and a 52 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 business has a fifty day simple moving average of $102.16 and a 200 day simple moving average of $93.18.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

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.