Peak Financial Management Inc. Lowers Stake in Boston Scientific Co. (NYSE:BSX)

Peak Financial Management Inc. reduced its holdings in Boston Scientific Co. (NYSE:BSX) by 11.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,507 shares of the medical equipment provider’s stock after selling 335 shares during the quarter. Peak Financial Management Inc.’s holdings in Boston Scientific were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Sanford C. Bernstein lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Mizuho increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. BTIG Research boosted their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Bank of America increased their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $97.26.

Boston Scientific Stock Up 0.3 %

BSX stock opened at $101.97 on Monday. The stock has a market cap of $150.29 billion, a PE ratio of 84.28, a price-to-earnings-growth ratio of 2.63 and a beta of 0.80. The firm’s 50-day simple moving average is $92.26 and its 200 day simple moving average is $85.40. Boston Scientific Co. has a fifty-two week low of $59.97 and a fifty-two week high of $102.15. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Insider Buying and Selling at Boston Scientific

In other news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,989 shares of company stock worth $2,702,261. 0.50% of the stock is owned by company insiders.

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.