Twin Tree Management LP Trims Stock Position in Boston Scientific Co. (NYSE:BSX)

Twin Tree Management LP reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 38.4% during the fourth quarter, Holdings Channel reports. The firm owned 128,076 shares of the medical equipment provider’s stock after selling 79,930 shares during the quarter. Twin Tree Management LP’s holdings in Boston Scientific were worth $11,440,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BSX. TFC Financial Management Inc. grew its position in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 210 shares during the period. Dunhill Financial LLC grew its position in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares during the period. Global Wealth Strategies & Associates grew its position in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the period. West Oak Capital LLC purchased a new stake in shares of Boston Scientific in the 4th quarter worth about $29,000. Finally, Valley National Advisers Inc. grew its position in shares of Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 286 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the sale, the executive vice president now owns 25,443 shares in the company, valued at approximately $2,704,845.33. This trade represents a 4.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the sale, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,302 shares of company stock worth $14,319,269. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BSX. Truist Financial upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Citigroup upped their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. TD Cowen upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Wells Fargo & Company upped their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada upped their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.91.

Boston Scientific Stock Performance

BSX opened at $99.02 on Tuesday. 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 company has a market cap of $146.14 billion, a price-to-earnings ratio of 79.22, a PEG ratio of 2.79 and a beta of 0.77. The company’s 50 day moving average is $101.21 and its 200 day moving average is $91.97. Boston Scientific Co. has a 12-month low of $66.16 and a 12-month high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data 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%. On average, equities research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Boston Scientific 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.