Alerus Financial NA Trims Stock Position in Boston Scientific Co. (NYSE:BSX)

Alerus Financial NA lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,400 shares of the medical equipment provider’s stock after selling 7,207 shares during the quarter. Alerus Financial NA’s holdings in Boston Scientific were worth $8,075,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BSX. Level Four Advisory Services LLC grew its stake in Boston Scientific by 9.9% during the fourth quarter. Level Four Advisory Services LLC now owns 8,429 shares of the medical equipment provider’s stock worth $753,000 after buying an additional 761 shares during the period. Orion Portfolio Solutions LLC increased its holdings in Boston Scientific by 7.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 30,580 shares of the medical equipment provider’s stock valued at $2,731,000 after purchasing an additional 2,065 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Boston Scientific by 23.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,616,895 shares of the medical equipment provider’s stock worth $323,061,000 after purchasing an additional 691,267 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Boston Scientific by 13.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,329,144 shares of the medical equipment provider’s stock valued at $118,719,000 after buying an additional 155,336 shares in the last quarter. Finally, New Age Alpha Advisors LLC lifted its position in Boston Scientific by 10,685.1% during the 4th quarter. New Age Alpha Advisors LLC now owns 20,923 shares of the medical equipment provider’s stock worth $1,869,000 after acquiring an additional 20,729 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 1,201 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock worth $14,319,269 over the last quarter. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on BSX. Argus set a $130.00 price target on Boston Scientific in a research note on Tuesday, February 18th. Stifel Nicolaus increased their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Canaccord Genuity Group boosted their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Stock Down 1.6 %

Boston Scientific stock opened at $100.74 on Friday. The company has a fifty day simple moving average of $102.15 and a 200 day simple moving average of $92.93. 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 Co. has a 1-year low of $66.80 and a 1-year high of $107.17. The company has a market cap of $149.01 billion, a P/E ratio of 80.59, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Research analysts anticipate 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.