Sequoia Financial Advisors LLC Boosts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Sequoia Financial Advisors LLC grew its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,271 shares of the medical equipment provider's stock after acquiring an additional 3,879 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Boston Scientific were worth $2,704,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BSX. Raymond James Financial Inc. bought a new position in Boston Scientific in the fourth quarter valued at $190,780,000. State Street Corp increased its position in shares of Boston Scientific by 2.3% in the third 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 during the last quarter. Fisher Funds Management LTD acquired a new stake in shares of Boston Scientific in the fourth quarter valued at about $94,710,000. Fisher Asset Management LLC raised its holdings in Boston Scientific by 21.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider's stock worth $518,138,000 after acquiring an additional 1,028,977 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its position in Boston Scientific by 17.5% during the third 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 purchasing an additional 815,403 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Remove Ads

Insider Activity

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction on 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 owns 28,454 shares of the company's stock, valued at $2,966,329.50. This trade represents a 14.11 % 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 firm's stock in a transaction that occurred on Monday, February 3rd. The stock was 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 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 90 days, insiders sold 137,302 shares of company stock valued at $14,319,269. Insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BSX. Stifel Nicolaus upped their price objective on Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Boston Scientific in a research report on Monday, March 3rd. Royal Bank of Canada lifted their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Raymond James upped their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a report on Thursday, February 6th. Finally, Barclays boosted their price target on Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $108.91.

Boston Scientific Price Performance

NYSE:BSX traded up $0.27 during mid-day trading on Tuesday, reaching $99.17. The stock had a trading volume of 5,370,015 shares, compared to its average volume of 5,741,979. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The stock has a market capitalization of $146.36 billion, a PE ratio of 79.34, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock has a 50-day simple moving average of $101.35 and a two-hundred day simple moving average of $92.09.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating 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 analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current 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.