Mirova Cuts Stake in Boston Scientific Co. (NYSE:BSX)

Mirova reduced its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,102 shares of the medical equipment provider's stock after selling 2,661 shares during the quarter. Mirova's holdings in Boston Scientific were worth $2,242,000 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. TFC Financial Management Inc. lifted its stake 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. Global Wealth Strategies & Associates increased its stake in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. West Oak Capital LLC bought a new position in Boston Scientific during the fourth quarter worth $29,000. Valley National Advisers Inc. grew its holdings 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 worth $35,000 after purchasing an additional 286 shares during the period. Finally, Fairway Wealth LLC bought a new stake in Boston Scientific in the 4th quarter valued at about $36,000. Institutional investors own 89.07% of the company's stock.

Boston Scientific Trading Up 0.8 %

Boston Scientific stock traded up $0.85 during mid-day trading on Friday, reaching $101.99. 2,614,561 shares of the company traded hands, compared to its average volume of 6,363,665. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 52-week low of $70.97 and a 52-week high of $107.17. The firm has a market capitalization of $150.86 billion, a price-to-earnings ratio of 81.49, a P/E/G ratio of 2.79 and a beta of 0.73. The firm's 50 day moving average price is $98.75 and its 200 day moving average price is $94.69.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. On average, analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Vance R. Brown sold 4,826 shares of the 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 directly owns 36,193 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares in the company, 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 138,009 shares of company stock worth $14,407,381 in the last quarter. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on BSX shares. Citigroup raised their price objective on Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Barclays raised their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday. UBS Group increased their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Piper Sandler raised their target price on Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Stifel Nicolaus upped their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $114.52.

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.