Nuveen Asset Management LLC Lowers Position in Boston Scientific Co. (NYSE:BSX)

Nuveen Asset Management LLC lessened its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 12.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,929,280 shares of the medical equipment provider's stock after selling 1,404,182 shares during the quarter. Nuveen Asset Management LLC owned about 0.67% of Boston Scientific worth $886,883,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Parnassus Investments LLC grew its holdings in Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock worth $1,327,000 after acquiring an additional 97 shares during the last quarter. Baldwin Investment Management LLC increased its stake in Boston Scientific by 1.2% in the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after buying an additional 102 shares during the period. Evergreen Capital Management LLC raised its position in shares of Boston Scientific by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after acquiring an additional 106 shares in the last quarter. PDS Planning Inc lifted its stake in shares of Boston Scientific by 1.5% during the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock worth $668,000 after buying an additional 113 shares during the period. Finally, Adero Partners LLC grew its holdings in Boston Scientific by 3.3% during the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock worth $334,000 after acquiring an additional 120 shares during the period. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the sale, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daniel J. Brennan sold 67,333 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the transaction, the chief financial officer now directly owns 225,808 shares in the company, valued at approximately $23,764,033.92. This represents a 22.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 265,820 shares of company stock valued at $27,406,958 over the last three months. Company insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

BSX stock traded up $0.41 during midday trading on Monday, hitting $106.45. 1,892,661 shares of the stock traded hands, compared to its average volume of 6,345,578. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The firm has a market cap of $157.49 billion, a P/E ratio of 85.10, a PEG ratio of 2.79 and a beta of 0.68. The stock's fifty day simple moving average is $99.18 and its 200-day simple moving average is $96.74. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates 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 for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 EPS. On average, analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on BSX. 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 report on Thursday, February 6th. Evercore ISI increased their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. StockNews.com upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. BTIG Research restated a "buy" rating and issued a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. Finally, Needham & Company LLC raised their target price on Boston Scientific from $113.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Twenty-three research 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, Boston Scientific has a consensus rating of "Buy" and a consensus price target of $114.74.

Boston Scientific 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.