Summit Investment Advisors Inc. Sells 556 Shares of Boston Scientific Co. (NYSE:BSX)

Summit Investment Advisors Inc. decreased its position in shares of Boston Scientific Co. (NYSE:BSX) by 3.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 14,360 shares of the medical equipment provider’s stock after selling 556 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Boston Scientific were worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Advisors Capital Management LLC grew its position in shares of Boston Scientific by 12.0% during the 4th quarter. Advisors Capital Management LLC now owns 3,452 shares of the medical equipment provider’s stock worth $308,000 after purchasing an additional 371 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new stake in shares of Boston Scientific during the 4th quarter worth $909,000. Rockefeller Capital Management L.P. raised its stake in Boston Scientific by 7.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 148,074 shares of the medical equipment provider’s stock valued at $13,191,000 after purchasing an additional 10,110 shares in the last quarter. Monetary Management Group Inc. acquired a new stake in Boston Scientific during the fourth quarter worth about $255,000. Finally, Kennedy Capital Management LLC increased its holdings in Boston Scientific by 26.2% in the 4th quarter. Kennedy Capital Management LLC now owns 99,515 shares of the medical equipment provider’s stock valued at $8,889,000 after buying an additional 20,635 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Activity

In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,183 shares of company stock valued at $13,948,476 in the last 90 days. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on BSX shares. Barclays boosted their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Citigroup boosted their price target on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Argus set a $130.00 price objective on Boston Scientific in a research note on Tuesday, February 18th. Wells Fargo & Company boosted their target price on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $110.22.

Boston Scientific Trading Up 1.1 %

NYSE:BSX opened at $95.28 on Thursday. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week high of $107.17. The firm has a 50-day moving average price of $99.90 and a two-hundred day moving average price of $94.18. The firm has a market cap of $140.93 billion, a price-to-earnings ratio of 76.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. 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 posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating 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%. On average, equities analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.