Picton Mahoney Asset Management Sells 2,858 Shares of Boston Scientific Co. (NYSE:BSX)

Picton Mahoney Asset Management lowered its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 281,121 shares of the medical equipment provider's stock after selling 2,858 shares during the quarter. Boston Scientific accounts for about 0.7% of Picton Mahoney Asset Management's holdings, making the stock its 24th largest position. Picton Mahoney Asset Management's holdings in Boston Scientific were worth $25,112,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock valued at $345,205,000 after purchasing an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department purchased a new position in Boston Scientific during the fourth quarter valued at approximately $415,000. Highland Capital Management LLC purchased a new position in Boston Scientific during the fourth quarter valued at approximately $4,887,000. Covenant Asset Management LLC purchased a new position in Boston Scientific during the fourth quarter valued at approximately $3,405,000. Finally, Brookstone Capital Management grew its position in Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock worth $9,455,000 after acquiring an additional 20,307 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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Boston Scientific Price Performance

Shares of BSX stock traded up $2.11 during mid-day trading on Monday, reaching $99.27. The company's stock had a trading volume of 3,324,119 shares, compared to its average volume of 5,736,558. Boston Scientific Co. has a 1-year low of $66.16 and a 1-year high of $107.17. The company has a market cap of $146.49 billion, a P/E ratio of 79.43, a PEG ratio of 2.79 and a beta of 0.77. 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's 50-day moving average is $101.05 and its two-hundred day moving average is $91.84.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data 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, research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of 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. StockNews.com downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a research report on Monday, March 3rd. Finally, Truist Financial upped their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $108.91.

Insider Buying and Selling

In other news, EVP John Bradley Sorenson sold 4,119 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares of the company's stock, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares in the company, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock worth $14,319,269 in the last quarter. 0.50% of the stock is owned by corporate 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.