Bessemer Group Inc. Sells 2,881 Shares of Boston Scientific Co. (NYSE:BSX)

Bessemer Group Inc. lowered its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 12.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,831 shares of the medical equipment provider's stock after selling 2,881 shares during the period. Bessemer Group Inc.'s holdings in Boston Scientific were worth $1,860,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. TFC Financial Management Inc. raised its position in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 210 shares in the last quarter. Global Wealth Strategies & Associates raised its position in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC bought a new stake in Boston Scientific during the fourth quarter worth $29,000. Valley National Advisers Inc. boosted its holdings in shares of Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 286 shares in the last quarter. Finally, Fairway Wealth LLC bought a new position in shares of Boston Scientific in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com lowered Boston Scientific from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price objective for the company in a research report on Friday, January 10th. Citigroup raised their target price 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. UBS Group upped their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Royal Bank of Canada raised their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $110.22.

Insiders Place Their Bets

In related news, CFO Daniel J. Brennan sold 15,087 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the transaction, the chief financial officer now directly owns 241,451 shares of the company's stock, valued at $25,369,256.57. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Bradley Sorenson sold 6,528 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the completion of the sale, the executive vice president now directly owns 26,449 shares of the company's stock, valued at $2,776,351.53. The trade was a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,183 shares of company stock worth $13,948,476. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 0.2 %

NYSE BSX traded down $0.17 on Friday, hitting $95.08. 6,672,959 shares of the company were exchanged, compared to its average volume of 6,370,413. The stock has a fifty day moving average of $99.68 and a 200-day moving average of $94.26. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The company has a market cap of $140.63 billion, a PE ratio of 76.06, a PEG ratio of 2.79 and a beta of 0.73. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

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