Hartford Investment Management Co. Sells 1,470 Shares of Boston Scientific Co. (NYSE:BSX)

Hartford Investment Management Co. trimmed its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 91,204 shares of the medical equipment provider’s stock after selling 1,470 shares during the quarter. Hartford Investment Management Co.’s holdings in Boston Scientific were worth $8,146,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BSX. Values First Advisors Inc. acquired a new position in Boston Scientific during the third quarter valued at approximately $28,000. Dunhill Financial LLC raised its holdings in shares of Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares in the last quarter. Global Wealth Strategies & Associates lifted its position in shares of 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 buying an additional 250 shares during the last quarter. West Oak Capital LLC bought a new stake in shares of Boston Scientific during the 4th quarter worth $29,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Boston Scientific in the third quarter valued at about $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on BSX. Barclays boosted their target price on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday. Raymond James upped their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. UBS Group raised their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Finally, Canaccord Genuity Group raised their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $107.39.

Boston Scientific Price Performance

BSX stock opened at $106.03 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a market cap of $156.26 billion, a price-to-earnings ratio of 84.82, a PEG ratio of 2.79 and a beta of 0.80. The company’s fifty day simple moving average is $95.19 and its 200 day simple moving average is $87.50. Boston Scientific Co. has a 12-month low of $64.54 and a 12-month high of $107.17.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. On average, analysts expect that Boston Scientific Co. will post 2.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the sale, the executive vice president now owns 29,308 shares in the company, valued at $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 6,528 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $104.97, for a total value of $685,244.16. Following the transaction, the executive vice president now directly owns 26,449 shares in the company, valued at $2,776,351.53. The trade was a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,830 shares of company stock worth $5,149,969. 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.