Boston Scientific Co. (NYSE:BSX) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 637,509 shares of the medical equipment provider's stock after selling 74,373 shares during the quarter. Cerity Partners LLC's holdings in Boston Scientific were worth $55,869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parnassus Investments LLC lifted its stake in shares of Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock worth $1,327,000 after purchasing an additional 97 shares during the period. PDS Planning Inc grew its stake in shares of Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock valued at $668,000 after acquiring an additional 113 shares during the period. Adero Partners LLC increased its holdings in Boston Scientific by 3.3% in the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock worth $334,000 after acquiring an additional 120 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of Boston Scientific by 4.4% during the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider's stock valued at $261,000 after buying an additional 122 shares in the last quarter. Finally, PFG Investments LLC lifted its position in shares of Boston Scientific by 1.6% in the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider's stock valued at $725,000 after acquiring an additional 125 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 2,657 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $104.41, for a total transaction of $277,417.37. Following the completion of the sale, the executive vice president now directly owns 24,294 shares in the company, valued at $2,536,536.54. This represents a 9.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Daniel J. Brennan sold 67,333 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the sale, the chief financial officer now directly owns 225,808 shares in the company, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,183 shares of company stock valued at $13,948,476 over the last three months. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Citigroup increased their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Needham & Company LLC restated a "hold" rating on shares of Boston Scientific in a research report on Monday, March 3rd. Truist Financial reduced their price objective on Boston Scientific from $120.00 to $113.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Royal Bank of Canada upped their price objective on Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $109.04.

Boston Scientific Trading Up 1.1 %

Boston Scientific stock traded up $1.02 during trading hours on Friday, hitting $93.66. The company 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 quick ratio of 1.02 and a current ratio of 1.08. The firm has a market cap of $138.53 billion, a P/E ratio of 74.93, a P/E/G ratio of 2.79 and a beta of 0.73. The company has a 50-day moving average price of $100.54 and a two-hundred day moving average price of $94.10. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly 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 return on equity of 17.80% and a net margin of 11.07%. On average, sell-side analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.