Sirios Capital Management L P Trims Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Sirios Capital Management L P lowered its stake in Boston Scientific Co. (NYSE:BSX) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,816 shares of the medical equipment provider’s stock after selling 5,543 shares during the quarter. Boston Scientific comprises 2.9% of Sirios Capital Management L P’s portfolio, making the stock its 11th biggest holding. Sirios Capital Management L P’s holdings in Boston Scientific were worth $16,418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Boston Scientific by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares during the period. Wellington Management Group LLP boosted its holdings in Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after buying an additional 3,344,571 shares during the period. Geode Capital Management LLC increased its stake in Boston Scientific by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock worth $2,729,371,000 after buying an additional 1,041,329 shares in the last quarter. Capital World Investors raised its holdings in Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after acquiring an additional 6,216,199 shares during the period. Finally, Norges Bank purchased a new position in shares of Boston Scientific in the fourth quarter valued at about $1,762,522,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BSX has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. UBS Group lifted their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Morgan Stanley upped their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Citigroup lifted their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Raymond James increased their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and a consensus target price of $110.22.

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. This represents a 75.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the sale, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,009 shares of company stock worth $14,407,381 over the last quarter. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 1.5 %

NYSE:BSX opened at $94.96 on Wednesday. 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 firm has a 50-day simple moving average of $99.00 and a 200-day simple moving average of $94.55. Boston Scientific Co. has a one year low of $67.80 and a one year high of $107.17. The firm has a market cap of $140.45 billion, a P/E ratio of 75.97, a P/E/G ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last posted its earnings results 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 17.80% and a net margin of 11.07%. Equities analysts anticipate that Boston Scientific Co. will post 2.85 EPS 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.