Vinva Investment Management Ltd Sells 4,586 Shares of Boston Scientific Co. (NYSE:BSX)

Vinva Investment Management Ltd lowered its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 8.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,489 shares of the medical equipment provider's stock after selling 4,586 shares during the period. Vinva Investment Management Ltd's holdings in Boston Scientific were worth $4,259,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brooklyn FI LLC bought a new stake in Boston Scientific during the fourth quarter worth approximately $642,000. Xponance Inc. boosted its holdings in shares of Boston Scientific by 5.1% during the 4th quarter. Xponance Inc. now owns 219,139 shares of the medical equipment provider's stock worth $19,573,000 after buying an additional 10,681 shares during the period. Intech Investment Management LLC grew its stake in Boston Scientific by 91.8% in the 4th quarter. Intech Investment Management LLC now owns 378,607 shares of the medical equipment provider's stock valued at $33,817,000 after buying an additional 181,220 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in Boston Scientific in the 4th quarter worth $10,749,000. Finally, Evoke Wealth LLC lifted its position in Boston Scientific by 26.3% during the 4th quarter. Evoke Wealth LLC now owns 3,541 shares of the medical equipment provider's stock worth $316,000 after acquiring an additional 738 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BSX. Needham & Company LLC reaffirmed a "hold" rating on shares of Boston Scientific in a research report on Monday, March 3rd. Citigroup raised their target price on Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Stifel Nicolaus upped their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, December 16th. Finally, UBS Group upped their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $108.91.

Remove Ads

Insider Activity

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the sale, 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 document filed with the SEC, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. This represents a 4.51 % 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 worth $14,319,269. Insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

Shares of NYSE BSX traded up $2.05 during midday trading on Monday, reaching $102.74. 5,830,086 shares of the company traded hands, compared to its average volume of 5,772,588. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month 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. The stock's 50-day simple moving average is $101.68 and its 200-day simple moving average is $92.50. The firm has a market cap of $151.96 billion, a PE ratio of 82.19, a PEG ratio of 2.79 and a beta of 0.77.

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%. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.