Sivik Global Healthcare LLC Reduces Stake in Boston Scientific Co. (NYSE:BSX)

Sivik Global Healthcare LLC decreased its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 8.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,000 shares of the medical equipment provider's stock after selling 10,000 shares during the quarter. Boston Scientific makes up about 3.7% of Sivik Global Healthcare LLC's investment portfolio, making the stock its 8th largest position. Sivik Global Healthcare LLC's holdings in Boston Scientific were worth $8,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of BSX. Capital World Investors grew its holdings in shares of Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider's stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares during the last quarter. Marshall Wace LLP grew its stake in Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider's stock worth $517,544,000 after buying an additional 3,608,158 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of Boston Scientific during the first quarter worth approximately $182,897,000. AustralianSuper Pty Ltd raised its position in Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider's stock valued at $224,320,000 after purchasing an additional 2,615,903 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider's stock worth $8,728,221,000 after buying an additional 1,988,082 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares of the company's stock, valued at approximately $13,639,695. This represents a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock valued at $26,196,718 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research reports. Bank of America raised their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Robert W. Baird lifted their target price on Boston Scientific from $90.00 to $91.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Stifel Nicolaus upped their price target on Boston Scientific from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Evercore ISI lifted their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Finally, Truist Financial upped their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific currently has an average rating of "Moderate Buy" and a consensus target price of $93.39.

Boston Scientific Stock Down 1.3 %

NYSE BSX traded down $1.18 on Thursday, reaching $87.59. The company had a trading volume of 5,002,354 shares, compared to its average volume of 6,064,790. The company's fifty day moving average is $85.03 and its 200-day moving average is $79.33. The firm has a market capitalization of $129.09 billion, a price-to-earnings ratio of 73.36, a price-to-earnings-growth ratio of 2.61 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a 1-year low of $53.56 and a 1-year high of $89.30.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $4.04 billion. During the same period in the prior year, the firm earned $0.50 earnings per share. Boston Scientific's revenue for the quarter was up 19.3% compared to the same quarter last year. On average, research analysts forecast 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.