Salem Investment Counselors Inc. Has $17.58 Million Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Salem Investment Counselors Inc. lowered its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,790 shares of the medical equipment provider's stock after selling 15,857 shares during the quarter. Salem Investment Counselors Inc.'s holdings in Boston Scientific were worth $17,577,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BSX. Marshall Wace LLP lifted its position in shares of Boston Scientific by 115.9% in the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider's stock worth $517,544,000 after purchasing an additional 3,608,158 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider's stock worth $224,320,000 after buying an additional 2,615,903 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider's stock worth $608,349,000 after buying an additional 1,824,405 shares during the last quarter. State Street Corp grew its holdings in shares of Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider's stock valued at $184,810,000 after acquiring an additional 1,091,561 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Analysts Set New Price Targets

BSX has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Boston Scientific from $92.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Mizuho boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. BTIG Research increased their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Stifel Nicolaus boosted their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada raised their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $97.26.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares of the company's stock, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,989 shares of company stock valued at $2,702,261 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Price Performance

Shares of BSX traded down $0.10 during trading hours on Monday, hitting $94.78. 4,213,810 shares of the company were exchanged, compared to its average volume of 5,358,299. The company has a market cap of $139.69 billion, a price-to-earnings ratio of 78.33, a P/E/G ratio of 2.67 and a beta of 0.80. The firm's fifty day moving average is $89.96 and its 200 day moving average is $83.89. Boston Scientific Co. has a fifty-two week low of $59.61 and a fifty-two week high of $97.13. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the firm earned $0.50 EPS. The business's quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Boston Scientific 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.