Natixis Sells 106,994 Shares of Boston Scientific Co. (NYSE:BSX)

Natixis trimmed its stake in Boston Scientific Co. (NYSE:BSX) by 16.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 529,014 shares of the medical equipment provider’s stock after selling 106,994 shares during the quarter. Natixis’ holdings in Boston Scientific were worth $47,252,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BSX. Mechanics Bank Trust Department bought a new stake in Boston Scientific during the fourth quarter worth about $415,000. Highland Capital Management LLC bought a new position in Boston Scientific in the 4th quarter valued at $4,887,000. Covenant Asset Management LLC bought a new stake in shares of Boston Scientific during the fourth quarter worth $3,405,000. Brookstone Capital Management raised its holdings 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 valued at $9,455,000 after buying an additional 20,307 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. grew its holdings in Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after acquiring an additional 4,702 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Shares of BSX opened at $95.08 on Friday. The firm’s fifty day simple moving average is $99.46 and its two-hundred day simple moving average is $94.34. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $140.63 billion, a P/E ratio of 76.06, 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 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%. As a group, analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Insider Activity at Boston Scientific

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific 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 of the company’s stock, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the transaction, the executive vice president now owns 25,443 shares in the company, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,183 shares of company stock worth $13,948,476 in the last quarter. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BSX shares. Citigroup increased their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Piper Sandler raised their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Raymond James raised their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Barclays lifted their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada lifted their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific presently has an average rating of “Buy” and an average target price of $110.22.

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.