FACT Capital LP trimmed its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,879 shares of the medical equipment provider's stock after selling 21,567 shares during the quarter. Boston Scientific makes up 5.6% of FACT Capital LP's portfolio, making the stock its 7th biggest position. FACT Capital LP's holdings in Boston Scientific were worth $14,191,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TFC Financial Management Inc. grew its position in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 210 shares during the period. Colonial Trust Co SC grew its position in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 260 shares during the period. West Oak Capital LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $29,000. Valley National Advisers Inc. grew its position in shares of Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 286 shares during the period. Finally, Fairway Wealth LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $36,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Boston Scientific
In related news, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the transaction, the chief executive officer now owns 1,535,706 shares of the company's stock, valued at $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president now directly owns 18,705 shares in the company, valued at $1,955,420.70. This trade represents a 19.64% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 300,497 shares of company stock valued at $31,056,815. 0.50% of the stock is currently owned by corporate insiders.
Boston Scientific Stock Performance
Shares of Boston Scientific stock traded down $0.42 during midday trading on Friday, hitting $102.87. The company had a trading volume of 3,609,449 shares, compared to its average volume of 6,343,075. The stock has a market cap of $152.19 billion, a price-to-earnings ratio of 82.30, a PEG ratio of 2.79 and a beta of 0.68. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $98.68 and a 200 day simple moving average of $96.07. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.17.
Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter last year, the company earned $0.56 EPS. The firm's revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Citigroup boosted their target price on Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Evercore ISI boosted their target price on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Royal Bank of Canada boosted their target price on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Barclays upped their price objective on Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Stifel Nicolaus upped their price objective on 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 investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Boston Scientific presently has a consensus rating of "Buy" and an average target price of $114.52.
Check Out Our Latest Research Report on BSX
Boston Scientific Company Profile
(
Free Report)
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.
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