Qtron Investments LLC lowered its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 13.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,454 shares of the medical equipment provider's stock after selling 2,983 shares during the quarter. Qtron Investments LLC's holdings in Boston Scientific were worth $1,648,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its position in Boston Scientific by 7.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 148,074 shares of the medical equipment provider's stock valued at $13,191,000 after purchasing an additional 10,110 shares during the last quarter. Monetary Management Group Inc. bought a new position in shares of Boston Scientific in the fourth quarter valued at $255,000. Kennedy Capital Management LLC increased its holdings in Boston Scientific by 26.2% during the fourth quarter. Kennedy Capital Management LLC now owns 99,515 shares of the medical equipment provider's stock worth $8,889,000 after buying an additional 20,635 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Boston Scientific by 0.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 665,490 shares of the medical equipment provider's stock worth $59,442,000 after acquiring an additional 2,560 shares in the last quarter. Finally, Legacy Financial Advisors Inc. grew its position in shares of Boston Scientific by 33.8% in the 4th quarter. Legacy Financial Advisors Inc. now owns 5,320 shares of the medical equipment provider's stock valued at $475,000 after acquiring an additional 1,343 shares during the period. 89.07% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Raymond James lifted their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a research note on Thursday, February 6th. Citigroup raised their price target on Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Piper Sandler upped their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Morgan Stanley lifted their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. One analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $110.22.
Get Our Latest Report on BSX
Insider Activity
In related news, CFO Daniel J. Brennan sold 15,087 shares of the company's stock in a transaction on 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 sale, the chief financial officer now directly owns 241,451 shares of the company's stock, valued at $25,369,256.57. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,183 shares of company stock valued at $13,948,476. Insiders own 0.50% of the company's stock.
Boston Scientific Trading Up 0.8 %
Shares of NYSE:BSX traded up $0.72 on Thursday, reaching $95.97. 3,671,845 shares of the company traded hands, compared to its average volume of 6,358,211. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week 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 business's 50-day simple moving average is $99.90 and its 200 day simple moving average is $94.18. The stock has a market capitalization of $141.94 billion, a P/E ratio of 76.77, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.
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%. As a group, equities analysts anticipate 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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