Schonfeld Strategic Advisors LLC Sells 110,449 Shares of Boston Scientific Co. (NYSE:BSX)

Schonfeld Strategic Advisors LLC lessened its holdings in Boston Scientific Co. (NYSE:BSX) by 56.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,400 shares of the medical equipment provider’s stock after selling 110,449 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Boston Scientific were worth $7,539,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. TFC Financial Management Inc. lifted its position in Boston Scientific by 308.8% during 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 in the last quarter. Global Wealth Strategies & Associates increased its position in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. West Oak Capital LLC bought a new stake in Boston Scientific during the fourth quarter worth about $29,000. Valley National Advisers Inc. boosted its position in Boston Scientific by 262.4% during the fourth 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 position in shares of Boston Scientific during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on BSX. Barclays increased their price objective on Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Needham & Company LLC lifted their price objective on shares of Boston Scientific from $113.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Piper Sandler upped 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. Argus set a $130.00 price target on Boston Scientific in a report on Tuesday, February 18th. Finally, Morgan Stanley boosted their price target on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Twenty-three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and an average target price of $114.52.

Insider Buying and Selling at Boston Scientific

In related news, CFO Daniel J. Brennan sold 15,087 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the transaction, the chief financial officer now owns 241,451 shares of the company’s stock, valued at $25,369,256.57. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the transaction, the director now directly owns 24,398 shares in the company, valued at approximately $2,573,501.04. This represents a 32.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,009 shares of company stock valued at $14,407,381 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

NYSE:BSX opened at $103.16 on Friday. Boston Scientific Co. has a 52 week low of $70.97 and a 52 week high of $107.17. 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 firm’s 50-day simple moving average is $98.51 and its 200 day simple moving average is $95.24. The firm has a market cap of $152.59 billion, a price-to-earnings ratio of 82.53, a P/E/G ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the firm earned $0.56 earnings per share. As a group, sell-side analysts predict 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.