Rakuten Securities Inc. Lowers Stock Position in Boston Scientific Co. (NYSE:BSX)

Rakuten Securities Inc. lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 46.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 448 shares of the medical equipment provider’s stock after selling 383 shares during the period. Rakuten Securities Inc.’s holdings in Boston Scientific were worth $40,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. TFC Financial Management Inc. grew its position in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares during the period. Dunhill Financial LLC boosted its position 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 period. Global Wealth Strategies & Associates boosted its position in Boston Scientific by 423.7% during 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 position in Boston Scientific during the fourth quarter worth about $29,000. Finally, Valley National Advisers Inc. boosted its position in 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Citigroup raised their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Piper Sandler raised their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. TD Cowen raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction on Thursday, January 2nd. The shares were 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 of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares in the company, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock valued at $14,319,269 over the last three months. 0.50% of the stock is owned by company insiders.

Boston Scientific Trading Up 0.9 %

BSX stock opened at $96.42 on Thursday. The company has a market capitalization of $142.29 billion, a PE ratio of 77.14, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a one year low of $65.52 and a one year high of $107.17. The company’s 50 day moving average price is $100.80 and its two-hundred day moving average price is $91.52. 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 issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Boston Scientific Company 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.