Trek Financial LLC Has $283,000 Holdings in Boston Scientific Co. (NYSE:BSX)

Trek Financial LLC lowered its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 93.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,165 shares of the medical equipment provider's stock after selling 41,966 shares during the period. Trek Financial LLC's holdings in Boston Scientific were worth $283,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BSX. Vanguard Group Inc. raised its stake in Boston Scientific by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock valued at $11,869,805,000 after buying an additional 1,600,062 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after acquiring an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Boston Scientific by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock valued at $2,729,371,000 after acquiring an additional 1,041,329 shares in the last quarter. Norges Bank bought a new position in Boston Scientific during the fourth quarter worth $1,762,522,000. Finally, Franklin Resources Inc. boosted its holdings in Boston Scientific by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider's stock worth $1,477,307,000 after purchasing an additional 832,386 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price target on the stock in a research report on Friday, January 10th. Royal Bank of Canada upped their target price on Boston Scientific from $105.00 to $116.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. UBS Group raised their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Truist Financial lowered their price objective on Boston Scientific from $120.00 to $113.00 and set a "buy" rating for the company in a research note on Friday. Finally, Morgan Stanley boosted their price target 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 equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific currently has an average rating of "Moderate Buy" and an average target price of $109.04.

Boston Scientific Stock Up 1.1 %

Boston Scientific stock traded up $1.02 during mid-day trading on Friday, hitting $93.66. The company's stock had a trading volume of 8,303,541 shares, compared to its average volume of 6,356,881. 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 52-week low of $66.80 and a 52-week high of $107.17. The firm's 50 day moving average is $100.54 and its 200 day moving average is $94.10. The company has a market cap of $138.53 billion, a PE ratio of 74.93, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results 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%. On average, analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Activity

In related news, CFO Daniel J. Brennan sold 15,087 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the transaction, the chief financial officer now directly owns 241,451 shares in the company, valued at approximately $25,369,256.57. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now owns 5,502 shares of the company's stock, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,183 shares of company stock worth $13,948,476 in the last three months. 0.50% of the stock is owned by insiders.

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.