Osterweis Capital Management Inc. Decreases Position in Boston Scientific Co. (NYSE:BSX)

Osterweis Capital Management Inc. trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 331,412 shares of the medical equipment provider’s stock after selling 19,109 shares during the period. Boston Scientific comprises approximately 1.4% of Osterweis Capital Management Inc.’s portfolio, making the stock its 25th largest position. Osterweis Capital Management Inc.’s holdings in Boston Scientific were worth $29,602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BSX. Parnassus Investments LLC boosted its holdings in Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after acquiring an additional 97 shares during the period. Evergreen Capital Management LLC lifted its position in Boston Scientific by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock valued at $565,000 after purchasing an additional 106 shares during the last quarter. PDS Planning Inc boosted its stake in shares of Boston Scientific by 1.5% during the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock valued at $668,000 after purchasing an additional 113 shares during the period. Adero Partners LLC grew its holdings in shares of Boston Scientific by 3.3% in the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after purchasing an additional 120 shares during the last quarter. Finally, Grove Bank & Trust increased its stake in shares of Boston Scientific by 4.4% in the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after buying an additional 122 shares during the period. 89.07% of the stock is owned by institutional investors.

Insider Activity

In other Boston Scientific news, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the sale, the executive vice president now directly owns 26,449 shares in the company, valued at approximately $2,776,351.53. This trade represents a 19.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,183 shares of company stock worth $13,948,476 over the last 90 days. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BSX has been the subject of several analyst reports. Royal Bank of Canada increased their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Piper Sandler increased their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Argus set a $130.00 price target on Boston Scientific in a report on Tuesday, February 18th. UBS Group increased their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company boosted their target price on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $110.22.

Boston Scientific Trading Up 1.1 %

Boston Scientific stock opened at $95.28 on Thursday. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The business’s fifty day simple moving average is $99.90 and its two-hundred day simple moving average is $94.18. The company has a market capitalization of $140.93 billion, a price-to-earnings ratio of 76.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (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%. As a group, equities analysts predict 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.