Gabelli Funds LLC Has $35.34 Million Holdings in Boston Scientific Co. (NYSE:BSX)

Gabelli Funds LLC lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 395,596 shares of the medical equipment provider's stock after selling 6,800 shares during the quarter. Gabelli Funds LLC's holdings in Boston Scientific were worth $35,335,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BSX. Mechanics Bank Trust Department acquired a new position in shares of Boston Scientific during the 4th quarter valued at about $415,000. Highland Capital Management LLC acquired a new position in Boston Scientific during the fourth quarter valued at approximately $4,887,000. Covenant Asset Management LLC acquired a new position in Boston Scientific during the fourth quarter valued at approximately $3,405,000. Brookstone Capital Management raised its position in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock valued at $9,455,000 after purchasing an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. lifted its stake in shares of Boston Scientific by 31.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock worth $1,744,000 after buying an additional 4,702 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BSX shares. Argus set a $130.00 price objective on Boston Scientific in a research report on Tuesday, February 18th. Barclays boosted their price objective 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. Piper Sandler increased their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. UBS Group boosted their price target on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft raised Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 target price for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of "Buy" and a consensus price target of $110.22.

Boston Scientific Trading Down 0.2 %

Boston Scientific stock traded down $0.17 during mid-day trading on Friday, hitting $95.08. The stock had a trading volume of 6,672,959 shares, compared to its average volume of 6,370,413. The stock has a market capitalization of $140.63 billion, a PE ratio of 76.06, a P/E/G ratio of 2.79 and a beta of 0.73. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a 50-day simple moving average of $99.68 and a two-hundred day simple moving average of $94.26.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate 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 forecast that Boston Scientific Co. will post 2.85 EPS for the current year.

Insider Activity

In other news, CFO Daniel J. Brennan sold 67,333 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now owns 225,808 shares of the company's stock, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the sale, the executive vice president now directly owns 28,454 shares of the company's stock, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,183 shares of company stock valued at $13,948,476 in the last 90 days. 0.50% of the stock is owned by company insiders.

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.