Zacks Investment Management Has $21.40 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

Zacks Investment Management trimmed its position in Boston Scientific Co. (NYSE:BSX) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 239,594 shares of the medical equipment provider’s stock after selling 16,224 shares during the period. Zacks Investment Management’s holdings in Boston Scientific were worth $21,401,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Mechanics Bank Trust Department acquired a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $415,000. Highland Capital Management LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $4,887,000. Covenant Asset Management LLC acquired a new stake in Boston Scientific during the fourth quarter worth approximately $3,405,000. Brookstone Capital Management increased its position in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after purchasing an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. increased its holdings in Boston Scientific by 31.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after buying an additional 4,702 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 67,333 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the completion of the transaction, the chief financial officer now owns 225,808 shares in the company, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were 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 represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,183 shares of company stock valued at $13,948,476 over the last three months. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Argus set a $130.00 price objective on shares of Boston Scientific in a research report on Tuesday, February 18th. Piper Sandler boosted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. UBS Group raised their target price on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Truist Financial reduced their price target on shares of Boston Scientific from $120.00 to $113.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company upped their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and a consensus target price of $110.22.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $95.28 on Thursday. Boston Scientific Co. has a fifty-two week low of $66.80 and a fifty-two week high of $107.17. The company’s 50-day moving average is $99.90 and its 200 day moving average is $94.18. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The company has a market capitalization of $140.93 billion, a P/E ratio of 76.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.

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, equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share 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.