Farallon Capital Management LLC Has $448.65 Million Position in Boston Scientific Co. (NYSE:BSX)

Farallon Capital Management LLC cut its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,022,957 shares of the medical equipment provider's stock after selling 402,700 shares during the period. Boston Scientific accounts for about 2.3% of Farallon Capital Management LLC's investment portfolio, making the stock its 14th biggest position. Farallon Capital Management LLC owned 0.34% of Boston Scientific worth $448,651,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BSX. Colonial Trust Co SC lifted its position in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 260 shares in the last quarter. TFC Financial Management Inc. lifted its position in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 210 shares in the last quarter. West Oak Capital LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth approximately $29,000. Valley National Advisers Inc. lifted its position in shares of 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 in the last quarter. Finally, Fairway Wealth LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth approximately $36,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BSX. Piper Sandler upped their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Citigroup boosted their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Wells Fargo & Company boosted their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus boosted their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Twenty-three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $114.52.

Boston Scientific Stock Down 0.1%

Shares of BSX stock traded down $0.10 during trading hours on Monday, hitting $102.76. 6,974,224 shares of the company were exchanged, compared to its average volume of 6,345,598. The business has a 50 day moving average of $98.68 and a two-hundred day moving average of $96.07. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a market capitalization of $152.02 billion, a PE ratio of 82.21, a PEG ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. The firm's revenue was up 20.9% on a year-over-year basis. Analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares of the company's stock, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the transaction, the executive vice president now directly owns 22,235 shares of the company's stock, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 300,497 shares of company stock worth $31,056,815. 0.50% of the stock is owned by insiders.

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.