Gradient Investments LLC Reduces Holdings in Boston Scientific Co. (NYSE:BSX)

Gradient Investments LLC lowered its position in Boston Scientific Co. (NYSE:BSX) by 2.2% in the 4th quarter, HoldingsChannel reports. The fund owned 216,899 shares of the medical equipment provider’s stock after selling 4,817 shares during the period. Gradient Investments LLC’s holdings in Boston Scientific were worth $19,373,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BSX. Sachetta LLC raised its position in shares of Boston Scientific by 157.5% in the fourth quarter. Sachetta LLC now owns 1,450 shares of the medical equipment provider’s stock valued at $130,000 after purchasing an additional 887 shares during the period. CX Institutional raised its holdings in Boston Scientific by 16.5% during the 4th quarter. CX Institutional now owns 10,245 shares of the medical equipment provider’s stock valued at $915,000 after acquiring an additional 1,451 shares during the period. Zweig DiMenna Associates LLC lifted its position in shares of Boston Scientific by 4.4% during the fourth quarter. Zweig DiMenna Associates LLC now owns 282,900 shares of the medical equipment provider’s stock worth $25,269,000 after acquiring an additional 11,900 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock worth $2,445,000 after acquiring an additional 226 shares during the period. Finally, Whalen Wealth Management Inc. purchased a new position in shares of Boston Scientific in the fourth quarter valued at $684,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

BSX opened at $101.97 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $91.96 and its 200 day simple moving average is $85.16. The firm has a market cap of $150.29 billion, a price-to-earnings ratio of 84.28, a PEG ratio of 2.63 and a beta of 0.80. Boston Scientific Co. has a 1 year low of $59.97 and a 1 year high of $102.15.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the business earned $0.50 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. As a group, analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on BSX shares. Royal Bank of Canada lifted their target price on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Friday, January 10th. Wells Fargo & Company increased their price objective on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, BTIG Research upped their target price on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.26.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares in the company, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock valued at $2,702,261 in the last quarter. Insiders own 0.50% of the company’s stock.

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.