Contravisory Investment Management Inc. Sells 684 Shares of Boston Scientific Co. (NYSE:BSX)

Contravisory Investment Management Inc. decreased its position in shares of Boston Scientific Co. (NYSE:BSX) by 9.2% during the fourth quarter, HoldingsChannel reports. The firm owned 6,789 shares of the medical equipment provider’s stock after selling 684 shares during the period. Contravisory Investment Management Inc.’s holdings in Boston Scientific were worth $606,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. BOKF NA lifted its holdings in shares of Boston Scientific by 14.0% in the 2nd quarter. BOKF NA now owns 3,065 shares of the medical equipment provider’s stock worth $236,000 after acquiring an additional 377 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of Boston Scientific during the second quarter valued at about $203,000. J.W. Cole Advisors Inc. increased its holdings in shares of Boston Scientific by 9.2% in the second quarter. J.W. Cole Advisors Inc. now owns 3,989 shares of the medical equipment provider’s stock worth $307,000 after buying an additional 336 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Boston Scientific in the 2nd quarter valued at about $484,000. Finally, Citizens Financial Group Inc. RI bought a new position in Boston Scientific during the 2nd quarter worth approximately $274,000. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BSX shares. Citigroup raised their target price on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley boosted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. BTIG Research upped their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Mizuho raised their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $97.26.

Boston Scientific Trading Up 1.3 %

Boston Scientific stock opened at $96.87 on Thursday. Boston Scientific Co. has a one year low of $59.61 and a one year high of $97.36. The business’s fifty day moving average is $90.36 and its 200 day moving average is $84.15. 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 has a market capitalization of $142.77 billion, a PE ratio of 80.06, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 earnings per share. On average, sell-side analysts predict that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This trade 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 sold 29,989 shares of company stock worth $2,702,261. 0.50% of the stock is owned by 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.