Twin Tree Management LP Lowers Holdings in Boston Scientific Co. (NYSE:BSX)

Twin Tree Management LP lowered its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 38.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 128,076 shares of the medical equipment provider's stock after selling 79,930 shares during the quarter. Twin Tree Management LP's holdings in Boston Scientific were worth $11,440,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BSX. TFC Financial Management Inc. increased its holdings in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 210 shares during the period. Dunhill Financial LLC raised its position 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 worth $28,000 after buying an additional 152 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 250 shares during the period. West Oak Capital LLC purchased a new position in Boston Scientific during the fourth quarter worth about $29,000. Finally, Valley National Advisers Inc. increased its stake in Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock worth $35,000 after acquiring an additional 286 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

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Boston Scientific Trading Down 0.8 %

BSX stock traded down $0.85 during midday trading on Friday, reaching $100.66. 8,616,876 shares of the company traded hands, compared to its average volume of 5,761,625. The business has a 50 day moving average of $101.57 and a 200-day moving average of $92.22. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week high of $107.17. The firm has a market capitalization of $148.55 billion, a price-to-earnings ratio of 80.53, 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 quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating 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%. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 1,201 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the sale, the executive vice president now owns 25,443 shares of the company's stock, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the sale, the executive vice president now owns 28,454 shares of the company's stock, valued at $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock worth $14,319,269 in the last three months. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group lifted their price target on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Piper Sandler lifted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Truist Financial increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Barclays upped their price objective on Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price objective for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $108.91.

About Boston Scientific

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.