USS Investment Management Ltd Sells 19,427 Shares of Boston Scientific Co. (NYSE:BSX)

USS Investment Management Ltd reduced its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 7.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 254,498 shares of the medical equipment provider's stock after selling 19,427 shares during the quarter. USS Investment Management Ltd's holdings in Boston Scientific were worth $22,741,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. TFC Financial Management Inc. boosted its stake in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 210 shares during the period. Colonial Trust Co SC lifted its position in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 260 shares during the period. Valley National Advisers Inc. grew its stake in Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 286 shares during the period. Fairway Wealth LLC bought a new stake in shares of Boston Scientific during the fourth quarter worth about $36,000. Finally, Global Trust Asset Management LLC lifted its holdings in shares of Boston Scientific by 64.5% in the fourth quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider's stock valued at $39,000 after purchasing an additional 171 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Insiders Place Their Bets

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the sale, the executive vice president now owns 28,454 shares of the company's stock, valued at approximately $2,966,329.50. This trade represents a 14.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the sale, the chief financial officer now owns 225,808 shares in the company, valued at $23,764,033.92. This trade represents a 22.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,163 shares of company stock valued at $27,129,540 in the last 90 days. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BSX. Raymond James upped their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a research note on Thursday, February 6th. UBS Group upped their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 7th. Barclays raised their target price on Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Stifel Nicolaus boosted their target price on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, BTIG Research reiterated a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Twenty-three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $114.74.

Boston Scientific Trading Up 0.5%

Boston Scientific stock opened at $106.61 on Tuesday. The firm has a market cap of $157.72 billion, a PE ratio of 85.29, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.36. The stock's 50 day simple moving average is $99.39 and its two-hundred day simple moving average is $96.90. 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 (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping 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 company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. During the same period in the prior year, the business posted $0.56 earnings per share. The firm's revenue for the quarter 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 year.

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.

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