Bayesian Capital Management LP Sells 23,700 Shares of Boston Scientific Co. (NYSE:BSX)

Bayesian Capital Management LP lowered its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 64.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,100 shares of the medical equipment provider's stock after selling 23,700 shares during the period. Bayesian Capital Management LP's holdings in Boston Scientific were worth $1,170,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Principal Financial Group Inc. lifted its position in shares of Boston Scientific by 5.9% in the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider's stock worth $168,475,000 after buying an additional 111,724 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Boston Scientific by 6.7% during the fourth quarter. Nordea Investment Management AB now owns 119,535 shares of the medical equipment provider's stock valued at $10,713,000 after purchasing an additional 7,540 shares in the last quarter. CWA Asset Management Group LLC increased its position in shares of Boston Scientific by 4.2% during the 4th quarter. CWA Asset Management Group LLC now owns 8,281 shares of the medical equipment provider's stock worth $740,000 after purchasing an additional 336 shares in the last quarter. Bank of New Hampshire boosted its holdings in shares of Boston Scientific by 14.8% in the 4th quarter. Bank of New Hampshire now owns 2,565 shares of the medical equipment provider's stock worth $229,000 after acquiring an additional 330 shares in the last quarter. Finally, Collective Family Office LLC acquired a new position in Boston Scientific in the fourth quarter worth $209,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Down 0.4 %

Shares of Boston Scientific stock traded down $0.42 during trading hours on Friday, reaching $102.87. 3,609,449 shares of the company's stock were exchanged, compared to its average volume of 6,332,864. The stock has a market cap of $152.19 billion, a P/E ratio of 82.30, a P/E/G ratio of 2.79 and a beta of 0.68. The company has a 50 day moving average of $98.70 and a two-hundred day moving average of $95.83. 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 fifty-two week low of $71.88 and a fifty-two week high of $107.17.

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

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president now directly owns 22,235 shares in the company, valued at approximately $2,269,304.10. This trade represents a 43.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the transaction, the executive vice president now owns 25,443 shares of the company's stock, valued at $2,704,845.33. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 300,497 shares of company stock worth $31,056,815 over the last quarter. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BSX shares. UBS Group lifted their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Argus set a $130.00 price objective on shares of Boston Scientific in a report on Tuesday, February 18th. StockNews.com upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. BTIG Research reissued a "buy" rating and issued a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. Finally, Citigroup boosted their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Twenty-three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of "Buy" and an average target price of $114.52.

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.