Boston Scientific Co. (NYSE:BSX) Shares Sold by Fmr LLC

Fmr LLC lessened its stake in Boston Scientific Co. (NYSE:BSX) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 132,442,883 shares of the medical equipment provider’s stock after selling 2,754,011 shares during the quarter. Boston Scientific makes up approximately 0.7% of Fmr LLC’s holdings, making the stock its 18th biggest holding. Fmr LLC owned about 8.99% of Boston Scientific worth $11,829,798,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BSX. TFC Financial Management Inc. lifted its holdings 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 during the last quarter. Dunhill Financial LLC lifted its stake in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares during the last quarter. Global Wealth Strategies & Associates boosted its holdings in Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares during the period. West Oak Capital LLC bought a new stake in Boston Scientific during the fourth quarter valued at $29,000. Finally, Valley National Advisers Inc. raised its holdings in shares of Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 286 shares during the period. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Friday, January 10th. Stifel Nicolaus increased their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Canaccord Genuity Group boosted their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Morgan Stanley increased their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada upped their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $104.97, for a total value of $685,244.16. Following the completion of the sale, the executive vice president now directly owns 26,449 shares of the company’s stock, valued at approximately $2,776,351.53. This represents a 19.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 12,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total value of $1,265,760.00. Following the transaction, the director now directly owns 24,398 shares in the company, valued at approximately $2,573,501.04. This trade represents a 32.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,183 shares of company stock valued at $13,948,476. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

BSX opened at $89.78 on Friday. The business has a fifty day simple moving average of $101.90 and a 200-day simple moving average of $93.63. The firm has a market cap of $132.78 billion, a PE ratio of 71.82, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a fifty-two week low of $66.80 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (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, equities analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

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.