Erste Asset Management GmbH cut its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 239,854 shares of the medical equipment provider's stock after selling 19,244 shares during the period. Erste Asset Management GmbH's holdings in Boston Scientific were worth $21,699,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. TFC Financial Management Inc. lifted its holdings in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 210 shares during the period. Global Wealth Strategies & Associates increased its position in shares of Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC bought a new position in Boston Scientific during the 4th quarter valued at about $29,000. Dunhill Financial LLC boosted its position 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. Finally, Valley National Advisers Inc. grew its stake in Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock worth $35,000 after buying an additional 286 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.
Analyst Ratings Changes
BSX has been the subject of a number of research analyst reports. StockNews.com cut shares of Boston Scientific from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Argus set a $130.00 price objective on Boston Scientific in a research report on Tuesday, February 18th. Wells Fargo & Company increased their target price on Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Stifel Nicolaus lifted their price target on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada increased their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $108.91.
Check Out Our Latest Stock Report on BSX
Boston Scientific Trading Up 1.9 %
Shares of Boston Scientific stock traded up $1.86 during trading on Monday, hitting $99.02. 5,703,033 shares of the company were exchanged, compared to its average volume of 5,744,460. The firm has a market capitalization of $146.14 billion, a P/E ratio of 79.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The firm's fifty day moving average price is $101.05 and its 200 day moving average price is $91.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 1-year low of $66.16 and a 1-year high of $107.17.
Boston Scientific (NYSE:BSX - Get Free Report) last issued 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%. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.
Insider Activity at Boston Scientific
In related news, CFO Daniel J. Brennan sold 67,333 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the sale, the chief financial officer now directly owns 225,808 shares of the company's stock, valued at approximately $23,764,033.92. This represents a 22.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction that occurred on 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 directly owns 28,454 shares in the company, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their position. 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. Corporate insiders own 0.50% of the company's stock.
Boston Scientific Profile
(
Free Report)
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.
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