International Assets Investment Management LLC Reduces Stock Position in Boston Scientific Co. (NYSE:BSX)

International Assets Investment Management LLC trimmed its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 95.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 22,078 shares of the medical equipment provider's stock after selling 445,967 shares during the period. International Assets Investment Management LLC's holdings in Boston Scientific were worth $1,972,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock valued at $345,205,000 after acquiring an additional 173,034 shares during the last quarter. HWG Holdings LP purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at $482,000. Principal Financial Group Inc. raised its stake in shares of Boston Scientific by 5.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider's stock worth $168,475,000 after purchasing an additional 111,724 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider's stock worth $289,675,000 after buying an additional 30,636 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in Boston Scientific by 153.5% during the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider's stock valued at $16,541,000 after buying an additional 119,525 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,989 shares of company stock worth $2,702,261 over the last 90 days. Corporate insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

Shares of BSX stock traded up $3.89 during trading on Thursday, hitting $95.88. The company had a trading volume of 10,744,330 shares, compared to its average volume of 5,469,267. The stock's 50-day moving average is $89.73 and its two-hundred day moving average is $83.67. The stock has a market capitalization of $141.31 billion, a price-to-earnings ratio of 79.24, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 52 week low of $58.09 and a 52 week high of $97.13.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The business's revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BSX. BTIG Research boosted their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Truist Financial upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Wells Fargo & Company boosted their target price on Boston Scientific from $98.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Boston Scientific has an average rating of "Moderate Buy" and a consensus price target of $95.96.

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.