Financial Perspectives Inc Decreases Position in Boston Scientific Co. (NYSE:BSX)

Financial Perspectives Inc trimmed its stake in Boston Scientific Co. (NYSE:BSX) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,136 shares of the medical equipment provider’s stock after selling 651 shares during the period. Boston Scientific makes up approximately 3.4% of Financial Perspectives Inc’s portfolio, making the stock its 6th biggest holding. Financial Perspectives Inc’s holdings in Boston Scientific were worth $8,448,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in Boston Scientific during the fourth quarter valued at approximately $472,000. PDS Planning Inc grew its position in Boston Scientific by 11.1% during the fourth quarter. PDS Planning Inc now owns 4,964 shares of the medical equipment provider’s stock valued at $287,000 after acquiring an additional 496 shares during the last quarter. Aspire Private Capital LLC grew its position in Boston Scientific by 10.9% during the fourth quarter. Aspire Private Capital LLC now owns 7,885 shares of the medical equipment provider’s stock valued at $456,000 after acquiring an additional 773 shares during the last quarter. California Public Employees Retirement System grew its position in Boston Scientific by 3.0% during the fourth quarter. California Public Employees Retirement System now owns 3,798,511 shares of the medical equipment provider’s stock valued at $219,592,000 after acquiring an additional 112,222 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Boston Scientific by 1.3% during the fourth quarter. Jennison Associates LLC now owns 1,227,833 shares of the medical equipment provider’s stock valued at $70,981,000 after acquiring an additional 15,596 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on BSX shares. Argus increased their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company increased their price objective on Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. BTIG Research reissued a “buy” rating and set a $64.00 price objective on shares of Boston Scientific in a research note on Friday, December 29th. Evercore ISI increased their price objective on Boston Scientific from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, TD Cowen increased their price objective on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.50.

Boston Scientific Stock Up 1.4 %

Shares of BSX traded up $0.97 during trading hours on Tuesday, hitting $68.99. The company had a trading volume of 9,073,838 shares, compared to its average volume of 6,428,136. The firm has a fifty day moving average price of $67.31 and a 200-day moving average price of $60.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The stock has a market capitalization of $101.22 billion, a price-to-earnings ratio of 63.57, a P/E/G ratio of 2.36 and a beta of 0.78. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $69.21.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, equities research analysts forecast that Boston Scientific Co. will post 2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is owned by insiders.

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.