Picton Mahoney Asset Management Cuts Stake in Boston Scientific Co. (NYSE:BSX)

Picton Mahoney Asset Management cut its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 portfolio, making the stock its 24th largest holding. Picton Mahoney Asset Management's holdings in Boston Scientific were worth $25,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BSX. Impax Asset Management Group plc raised its position in shares of Boston Scientific by 17.5% in the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider's stock valued at $457,138,000 after buying an additional 815,403 shares in the last quarter. Sigma Planning Corp grew its holdings in Boston Scientific by 5.2% during the 3rd quarter. Sigma Planning Corp now owns 7,900 shares of the medical equipment provider's stock worth $662,000 after acquiring an additional 389 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Boston Scientific by 11.5% in the 3rd quarter. Harbour Investments Inc. now owns 2,817 shares of the medical equipment provider's stock valued at $236,000 after purchasing an additional 291 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of Boston Scientific by 19.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,056 shares of the medical equipment provider's stock valued at $843,000 after purchasing an additional 1,638 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its stake in shares of Boston Scientific by 5.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 9,969 shares of the medical equipment provider's stock valued at $835,000 after purchasing an additional 520 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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Boston Scientific Price Performance

Shares of BSX stock traded up $0.27 during trading hours on Tuesday, hitting $99.17. 5,370,015 shares of the company's stock were exchanged, compared to its average volume of 5,741,505. The company has a market capitalization of $146.36 billion, a PE ratio of 79.34, a PEG ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17. The business's 50 day simple moving average is $101.35 and its 200-day simple moving average is $92.09. 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 (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (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%. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Activity at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the transaction, the chief financial officer now directly owns 241,451 shares of the company's stock, valued at approximately $25,369,256.57. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock worth $14,319,269 over the last quarter. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BSX. Needham & Company LLC reiterated a "hold" rating on shares of Boston Scientific in a research report on Monday, March 3rd. JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Canaccord Genuity Group boosted their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the company a "buy" rating in a research report on Monday, December 9th. StockNews.com downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, Wells Fargo & Company upped their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Two equities research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.