Ieq Capital LLC Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

Ieq Capital LLC lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,881 shares of the medical equipment provider’s stock after selling 542 shares during the period. Ieq Capital LLC’s holdings in Boston Scientific were worth $6,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. State Street Corp increased its stake in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after buying an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Boston Scientific by 2.2% in the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after acquiring an additional 718,515 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Boston Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after purchasing an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Boston Scientific by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock valued at $671,940,000 after purchasing an additional 64,720 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in Boston Scientific by 17.5% in the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after purchasing an additional 815,403 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 15,087 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the transaction, the chief financial officer now owns 241,451 shares of the company’s stock, valued at $25,369,256.57. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,640 shares of company stock worth $15,718,289. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of research reports. Sanford C. Bernstein upped their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. 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 report on Thursday, October 24th. TD Cowen boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. UBS Group upped their price target on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.39.

Boston Scientific Stock Down 0.2 %

Shares of NYSE BSX opened at $105.41 on Friday. Boston Scientific Co. has a 52-week low of $65.33 and a 52-week high of $107.17. The business’s 50 day moving average is $97.69 and its two-hundred day moving average is $89.06. The firm has a market cap of $155.36 billion, a price-to-earnings ratio of 84.33, a PEG ratio of 2.79 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its earnings results 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 18.11% and a net margin of 11.07%. Research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current 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.