Pictet Asset Management Holding SA Boosts Stock Position in Boston Scientific Co. (NYSE:BSX)

Pictet Asset Management Holding SA raised its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 23.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,616,895 shares of the medical equipment provider's stock after acquiring an additional 691,267 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.25% of Boston Scientific worth $323,061,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. TFC Financial Management Inc. lifted its stake 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 purchasing an additional 210 shares during the period. Dunhill Financial LLC increased 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 valued at $28,000 after buying an additional 152 shares in the last quarter. Global Wealth Strategies & Associates raised its position 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 acquiring an additional 250 shares during the period. West Oak Capital LLC purchased a new stake in shares of Boston Scientific during the 4th quarter worth about $29,000. Finally, Valley National Advisers Inc. grew its position in shares of Boston Scientific by 262.4% during the 4th 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 during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Remove Ads

Insider Activity

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the transaction, the executive vice president now owns 28,454 shares of the company's stock, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, 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 valued at $14,319,269 in the last 90 days. Company insiders own 0.50% of the company's stock.

Boston Scientific Trading Up 1.6 %

NYSE:BSX traded up $1.57 during trading hours on Monday, hitting $100.93. The company had a trading volume of 4,820,051 shares, compared to its average volume of 6,048,591. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The company has a market cap of $149.29 billion, a P/E ratio of 80.67, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a 50-day moving average of $102.16 and a 200 day moving average of $93.18. 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 announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Sell-side analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BSX shares. TD Cowen upped their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 target price for the company in a research note on Friday, January 10th. Raymond James lifted their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a research note on Thursday, February 6th. Stifel Nicolaus upped their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Morgan Stanley increased their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Two 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 company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $108.91.

About Boston Scientific

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.