Artisan Partners Limited Partnership Sells 1,178,311 Shares of Boston Scientific Co. (NYSE:BSX)

Artisan Partners Limited Partnership lowered its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 9.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,232,262 shares of the medical equipment provider's stock after selling 1,178,311 shares during the quarter. Boston Scientific comprises 1.5% of Artisan Partners Limited Partnership's holdings, making the stock its 16th biggest position. Artisan Partners Limited Partnership owned 0.76% of Boston Scientific worth $1,003,266,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mechanics Bank Trust Department acquired a new stake in shares of Boston Scientific during the 4th quarter worth $415,000. Highland Capital Management LLC bought a new stake in shares of Boston Scientific during the fourth quarter worth $4,887,000. Covenant Asset Management LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth $3,405,000. Brookstone Capital Management lifted its stake in shares of Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock valued at $9,455,000 after acquiring an additional 20,307 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. increased its stake in shares of Boston Scientific by 31.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock valued at $1,744,000 after buying an additional 4,702 shares during the period. Institutional investors own 89.07% of the company's stock.

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Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares of the company's stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock worth $14,319,269 in the last quarter. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. TD Cowen upped their target price on Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Argus set a $130.00 price target on shares of Boston Scientific in a research report on Tuesday, February 18th. Canaccord Genuity Group increased their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Truist Financial upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $108.91.

Boston Scientific Stock Performance

Boston Scientific stock traded up $0.90 during midday trading on Monday, reaching $100.26. The stock had a trading volume of 2,738,831 shares, compared to its average volume of 7,015,744. The firm has a market capitalization of $148.30 billion, a PE ratio of 80.21, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm's 50-day moving average price is $102.16 and its 200 day moving average price is $93.18.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS 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 predict that Boston Scientific Co. will post 2.85 earnings per share 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.