Bessemer Group Inc. Has $1.86 Million Stake in Boston Scientific Co. (NYSE:BSX)

Bessemer Group Inc. lowered its stake in Boston Scientific Co. (NYSE:BSX) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,831 shares of the medical equipment provider’s stock after selling 2,881 shares during the period. Bessemer Group Inc.’s holdings in Boston Scientific were worth $1,860,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. TFC Financial Management Inc. raised its position in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 210 shares during the last quarter. Global Wealth Strategies & Associates raised its holdings in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new position in Boston Scientific during the 4th quarter valued at about $29,000. Valley National Advisers Inc. boosted its stake 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 valued at $35,000 after purchasing an additional 286 shares during the last quarter. Finally, Fairway Wealth LLC acquired a new stake in shares of Boston Scientific during the 4th quarter worth approximately $36,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 1.1 %

Shares of Boston Scientific stock opened at $93.66 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week high of $107.17. The firm has a market cap of $138.53 billion, a PE ratio of 74.93, a P/E/G ratio of 2.79 and a beta of 0.73. The business’s 50 day simple moving average is $100.54 and its 200 day simple moving average is $94.10.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating 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, analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on BSX. Citigroup increased their price objective 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. UBS Group raised their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Barclays upped their price objective on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Wells Fargo & Company raised their target price on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Raymond James upped their price target on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Two 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, the company currently has an average rating of “Moderate Buy” and an average price target of $109.04.

Insider Buying and Selling

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the sale, the executive vice president now owns 28,454 shares in the company, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’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 owns 5,502 shares in the company, valued at $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,183 shares of company stock worth $13,948,476. Corporate insiders own 0.50% of the company’s stock.

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.