Boston Scientific Co. (NYSE:BSX) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its position in Boston Scientific Co. (NYSE:BSX) by 85.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 15,450 shares of the medical equipment provider’s stock after selling 88,821 shares during the period. Cresset Asset Management LLC’s holdings in Boston Scientific were worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. TFC Financial Management Inc. raised its stake in Boston Scientific by 308.8% during the fourth 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. West Oak Capital LLC acquired a new stake in Boston Scientific in the fourth quarter worth $29,000. Valley National Advisers Inc. lifted its stake in Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 286 shares during the last quarter. Fairway Wealth LLC acquired a new position in shares of Boston Scientific during the fourth quarter valued at $36,000. Finally, Global Trust Asset Management LLC grew its position in shares of Boston Scientific by 64.5% during the fourth quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 171 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BSX has been the subject of a number of analyst reports. Robert W. Baird boosted their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Morgan Stanley increased their price objective on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. UBS Group lifted their target price on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company increased their price target on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Argus set a $130.00 price objective on shares of Boston Scientific in a report on Tuesday, February 18th. Twenty-three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and an average price target of $114.52.

Insider Activity at Boston Scientific

In other news, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. This represents a 11.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction that occurred 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 owns 25,443 shares of the company’s stock, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 300,497 shares of company stock worth $31,056,815 in the last ninety days. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Down 0.4 %

Boston Scientific stock opened at $102.87 on Friday. The company has a market capitalization of $152.19 billion, a P/E ratio of 82.30, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.17. The firm’s fifty day simple moving average is $98.68 and its 200-day simple moving average is $95.99. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter last year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. Sell-side analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Boston Scientific Company 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.