Hartford Funds Management Co LLC Buys 425 Shares of Boston Scientific Co. (NYSE:BSX)

Hartford Funds Management Co LLC lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,548 shares of the medical equipment provider’s stock after acquiring an additional 425 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Boston Scientific were worth $585,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after purchasing an additional 173,034 shares during the period. Mechanics Bank Trust Department bought a new position in Boston Scientific in the 4th quarter worth approximately $415,000. Highland Capital Management LLC bought a new position in Boston Scientific in the 4th quarter worth approximately $4,887,000. Covenant Asset Management LLC bought a new position in Boston Scientific in the 4th quarter worth approximately $3,405,000. Finally, Brookstone Capital Management boosted its stake in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after purchasing an additional 20,307 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 15,087 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 241,451 shares of the company’s stock, valued at $25,369,256.57. This represents a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,322 shares of company stock valued at $14,321,068 in the last quarter. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Performance

NYSE:BSX opened at $100.72 on Friday. The stock’s fifty day moving average is $100.29 and its 200 day moving average is $90.96. Boston Scientific Co. has a fifty-two week low of $65.52 and a fifty-two week high of $107.17. The firm has a market capitalization of $148.64 billion, a PE ratio of 80.58, a PEG ratio of 2.79 and a beta of 0.80. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

BSX has been the subject of several recent analyst reports. Wells Fargo & Company upped their price target on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Raymond James upped their price target on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Friday, January 10th. UBS Group upped their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Morgan Stanley upped their price objective on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued 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 “Buy” and an average target price of $108.91.

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.