Boston Scientific Co. (NYSE:BSX) Shares Sold by Ieq Capital LLC

Ieq Capital LLC lowered its position in shares of Boston Scientific Co. (NYSE:BSX) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,881 shares of the medical equipment provider’s stock after selling 542 shares during the period. Ieq Capital LLC’s holdings in Boston Scientific were worth $6,331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after acquiring an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department purchased a new stake in Boston Scientific during the fourth quarter worth approximately $415,000. Highland Capital Management LLC acquired a new position in Boston Scientific in the fourth quarter valued at approximately $4,887,000. Covenant Asset Management LLC purchased a new position in Boston Scientific in the fourth quarter valued at approximately $3,405,000. Finally, Brookstone Capital Management raised its holdings in Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after purchasing an additional 20,307 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the business’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 transaction of $1,762,463.40. Following the sale, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. The trade was a 75.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel J. Brennan sold 67,333 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the completion of the transaction, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,640 shares of company stock valued at $15,718,289 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BSX shares. Truist Financial upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Royal Bank of Canada raised their price objective on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Mizuho boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays raised their price target on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Sanford C. Bernstein boosted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.39.

Boston Scientific Stock Performance

NYSE BSX opened at $105.41 on Friday. The stock has a market capitalization of $155.36 billion, a price-to-earnings ratio of 84.33, a PEG ratio of 2.79 and a beta of 0.80. The business’s 50 day moving average is $97.69 and its two-hundred day moving average is $89.06. Boston Scientific Co. has a 12-month low of $65.33 and a 12-month high of $107.17. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. Research analysts expect that Boston Scientific Co. will post 2.85 EPS 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.