Advisory Services Network LLC Lowers Holdings in Boston Scientific Co. (NYSE:BSX)

Advisory Services Network LLC lowered its holdings in Boston Scientific Co. (NYSE:BSX) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,134 shares of the medical equipment provider’s stock after selling 3,616 shares during the quarter. Advisory Services Network LLC’s holdings in Boston Scientific were worth $4,121,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kovitz Investment Group Partners LLC acquired a new position in shares of Boston Scientific during the 3rd quarter valued at about $1,635,000. MML Investors Services LLC grew its position in Boston Scientific by 4.4% in the third quarter. MML Investors Services LLC now owns 88,808 shares of the medical equipment provider’s stock valued at $7,442,000 after acquiring an additional 3,771 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Boston Scientific by 0.3% during the 3rd quarter. M&T Bank Corp now owns 106,127 shares of the medical equipment provider’s stock valued at $8,894,000 after buying an additional 370 shares during the last quarter. Vestcor Inc boosted its stake in shares of Boston Scientific by 40.4% during the 3rd quarter. Vestcor Inc now owns 40,323 shares of the medical equipment provider’s stock valued at $3,379,000 after buying an additional 11,600 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Boston Scientific by 9.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 27,326 shares of the medical equipment provider’s stock valued at $2,301,000 after buying an additional 2,346 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Up 6.9 %

BSX opened at $96.86 on Thursday. The firm has a 50-day simple moving average of $100.95 and a two-hundred day simple moving average of $93.89. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $143.26 billion, a PE ratio of 77.49, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week high of $107.17.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 6,528 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the sale, the executive vice president now directly owns 26,449 shares of the company’s stock, valued at approximately $2,776,351.53. The trade was a 19.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,183 shares of company stock valued at $13,948,476. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BSX shares. JPMorgan Chase & Co. raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Morgan Stanley raised their price target on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Argus set a $130.00 target price on Boston Scientific in a report on Tuesday, February 18th. Barclays lifted their target price on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Piper Sandler increased their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.