Nicholas Company Inc. lessened its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 712,206 shares of the medical equipment provider's stock after selling 24,519 shares during the period. Nicholas Company Inc.'s holdings in Boston Scientific were worth $63,614,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. State Street Corp grew its holdings in Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares during the period. Wellington Management Group LLP raised its position in shares of Boston Scientific by 2.2% in the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider's stock valued at $2,750,385,000 after purchasing an additional 718,515 shares during the period. Geode Capital Management LLC boosted its holdings in Boston Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider's stock worth $2,469,607,000 after buying an additional 480,729 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Boston Scientific by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,475,031 shares of the medical equipment provider's stock valued at $756,990,000 after acquiring an additional 456,654 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Boston Scientific by 21.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider's stock worth $518,138,000 after acquiring an additional 1,028,977 shares during the period. Institutional investors own 89.07% of the company's stock.
Insider Transactions at Boston Scientific
In other news, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the completion of the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares of the company's stock, valued at $560,103.60. This 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 137,302 shares of company stock valued at $14,319,269 over the last 90 days. Company insiders own 0.50% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. UBS Group lifted their target price on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 7th. Royal Bank of Canada upped their target price on Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Stifel Nicolaus upped their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. TD Cowen upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Finally, Piper Sandler increased their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of "Moderate Buy" and an average target price of $108.91.
Read Our Latest Stock Analysis on Boston Scientific
Boston Scientific Stock Performance
Boston Scientific stock traded up $0.27 during mid-day trading on Tuesday, reaching $99.17. 5,365,675 shares of the stock traded hands, compared to its average volume of 5,742,332. The business's 50-day moving average is $101.21 and its 200-day moving average is $91.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock has a market capitalization of $146.36 billion, a PE ratio of 79.34, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 12-month low of $66.16 and a 12-month high of $107.17.
Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping 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 EPS for the current fiscal year.
About Boston Scientific
(
Free Report)
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.
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