Salem Investment Counselors Inc. Has $17.58 Million Holdings in Boston Scientific Co. (NYSE:BSX)

Salem Investment Counselors Inc. lessened its position in shares of Boston Scientific Co. (NYSE:BSX) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 196,790 shares of the medical equipment provider’s stock after selling 15,857 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Boston Scientific were worth $17,577,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Investment Advisors LLC increased its position in Boston Scientific by 12.2% during the 4th quarter. Capital Investment Advisors LLC now owns 2,899 shares of the medical equipment provider’s stock valued at $259,000 after purchasing an additional 315 shares during the period. Brookstone Capital Management increased its position in Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in Boston Scientific during the 4th quarter valued at approximately $229,000. Czech National Bank boosted its holdings in shares of Boston Scientific by 6.4% during the 4th quarter. Czech National Bank now owns 319,328 shares of the medical equipment provider’s stock worth $28,522,000 after buying an additional 19,339 shares in the last quarter. Finally, West Oak Capital LLC bought a new position in shares of Boston Scientific during the 4th quarter worth approximately $133,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of Boston Scientific stock traded down $0.08 during trading hours on Monday, hitting $94.80. 1,978,431 shares of the company’s stock traded hands, compared to its average volume of 5,029,796. Boston Scientific Co. has a 12-month low of $59.61 and a 12-month high of $97.13. The stock has a market capitalization of $139.72 billion, a price-to-earnings ratio of 78.35, a PEG ratio of 2.67 and a beta of 0.80. The company has a fifty day simple moving average of $89.96 and a 200-day simple moving average of $83.89. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the firm posted $0.50 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. Equities research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Citigroup increased their price target on Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Bank of America increased their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their price target on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.26.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at $3,610,038.74. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is owned by insiders.

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.