Sei Investments Co. Sells 399,196 Shares of Boston Scientific Co. (NYSE:BSX)

Sei Investments Co. cut its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,617,279 shares of the medical equipment provider's stock after selling 399,196 shares during the period. Sei Investments Co. owned 0.25% of Boston Scientific worth $323,094,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. TFC Financial Management Inc. raised its stake in Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 210 shares during the period. Global Wealth Strategies & Associates lifted its holdings in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new position in shares of Boston Scientific in the fourth quarter valued at $29,000. Dunhill Financial LLC increased its holdings in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Finally, Valley National Advisers Inc. raised its position in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 286 shares during the period. 89.07% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In related news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific 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 completion of the transaction, the executive vice president now owns 35,319 shares of the company's stock, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 5,502 shares in the company, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,302 shares of company stock valued at $14,319,269. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Price Performance

Shares of BSX traded down $0.77 during mid-day trading on Wednesday, reaching $102.31. The company had a trading volume of 6,645,668 shares, compared to its average volume of 5,796,517. The company's 50 day simple moving average is $101.99 and its 200 day simple moving average is $92.80. The company has a market capitalization of $151.32 billion, a price-to-earnings ratio of 81.85, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 1-year low of $66.80 and a 1-year high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BSX. Wells Fargo & Company upped their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Morgan Stanley upped their target price on Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Royal Bank of Canada lifted their price target on Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. StockNews.com lowered Boston Scientific from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.91.

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.