Victory Capital Management Inc. Reduces Holdings in Boston Scientific Co. (NYSE:BSX)

Victory Capital Management Inc. cut its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 511,768 shares of the medical equipment provider's stock after selling 15,792 shares during the quarter. Victory Capital Management Inc.'s holdings in Boston Scientific were worth $45,711,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BSX. TFC Financial Management Inc. increased its holdings 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 acquiring an additional 210 shares during the period. Dunhill Financial LLC increased its stake 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 purchasing an additional 152 shares during the period. Global Wealth Strategies & Associates raised its holdings 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 valued at $28,000 after buying an additional 250 shares during the last quarter. West Oak Capital LLC purchased a new stake in shares of Boston Scientific in the fourth quarter valued at about $29,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Boston Scientific during the third quarter worth about $30,000. Institutional investors and hedge funds own 89.07% of the company's stock.

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Insider Buying and Selling

In other 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 owns 241,451 shares of the company's stock, valued at approximately $25,369,256.57. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Bradley Sorenson sold 1,201 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares of the company's stock, valued at approximately $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,302 shares of company stock worth $14,319,269. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

Shares of NYSE BSX traded up $0.89 during trading on Wednesday, reaching $96.41. The company had a trading volume of 5,602,999 shares, compared to its average volume of 5,766,495. 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 Co. has a twelve month low of $65.52 and a twelve month high of $107.17. The stock has a 50-day moving average price of $100.66 and a two-hundred day moving average price of $91.49. The stock has a market capitalization of $142.28 billion, a PE ratio of 77.19, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX - Get Free Report) last released 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%. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BSX has been the subject of several analyst reports. Piper Sandler upped their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Morgan Stanley increased their price target on Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Citigroup boosted their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Argus set a $130.00 price objective on shares of Boston Scientific in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada lifted their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Boston Scientific presently has an average rating of "Moderate Buy" and an average 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.