FIL Ltd Lowers Stake in Boston Scientific Co. (NYSE:BSX)

FIL Ltd reduced its position in Boston Scientific Co. (NYSE:BSX) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,895,561 shares of the medical equipment provider’s stock after selling 424,779 shares during the period. FIL Ltd owned approximately 0.54% of Boston Scientific worth $705,232,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Boston Scientific during the fourth quarter worth approximately $1,762,522,000. Wellington Management Group LLP lifted its holdings in shares of Boston Scientific by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after acquiring an additional 3,344,571 shares in the last quarter. Axiom Investors LLC DE boosted its position in Boston Scientific by 208.2% during the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock worth $335,167,000 after purchasing an additional 2,535,007 shares during the period. Raymond James Financial Inc. acquired a new stake in Boston Scientific in the 4th quarter valued at $190,780,000. Finally, Invesco Ltd. raised its position in Boston Scientific by 13.6% in the fourth quarter. Invesco Ltd. now owns 15,790,666 shares of the medical equipment provider’s stock valued at $1,410,422,000 after purchasing an additional 1,893,012 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 6,528 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the completion of the sale, the executive vice president now directly owns 26,449 shares of the company’s stock, valued at $2,776,351.53. The trade was a 19.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,183 shares of company stock worth $13,948,476. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

BSX has been the subject of a number of recent research reports. Royal Bank of Canada increased their target price on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Barclays upped their target price on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Raymond James lifted their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, TD Cowen lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Trading Up 1.9 %

NYSE:BSX opened at $91.44 on Tuesday. The firm has a market capitalization of $135.25 billion, a P/E ratio of 73.15, a P/E/G ratio of 2.79 and a beta of 0.73. The business has a 50 day simple moving average of $101.68 and a 200 day simple moving average of $93.76. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Equities research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current 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.