Occudo Quantitative Strategies LP Reduces Holdings in Boston Scientific Co. (NYSE:BSX)

Occudo Quantitative Strategies LP decreased its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,491 shares of the medical equipment provider's stock after selling 4,797 shares during the period. Occudo Quantitative Strategies LP's holdings in Boston Scientific were worth $2,366,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock worth $11,869,805,000 after acquiring an additional 1,600,062 shares during the period. Wellington Management Group LLP boosted its position in Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares during the period. Geode Capital Management LLC boosted its position in Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock worth $2,729,371,000 after purchasing an additional 1,041,329 shares during the period. Capital World Investors increased its stake in shares of Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after purchasing an additional 6,216,199 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Boston Scientific by 2.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock valued at $1,992,994,000 after purchasing an additional 554,388 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 1.1%

BSX traded up $1.14 on Friday, hitting $106.00. The company had a trading volume of 7,288,742 shares, compared to its average volume of 6,365,351. Boston Scientific Co. has a 52-week low of $71.88 and a 52-week high of $107.17. The stock has a fifty day simple moving average of $98.98 and a 200-day simple moving average of $96.42. 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 capitalization of $156.83 billion, a P/E ratio of 84.80, a P/E/G ratio of 2.79 and a beta of 0.68.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the company earned $0.56 earnings per share. The firm's quarterly revenue was up 20.9% compared to the same quarter last year. As a group, equities analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Activity

In other Boston Scientific news, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific 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 completion of the transaction, the chief financial officer now owns 225,808 shares in the company, valued at approximately $23,764,033.92. The trade was a 22.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the sale, the executive vice president now directly owns 22,235 shares of the company's stock, valued at $2,269,304.10. This trade represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 265,820 shares of company stock worth $27,406,958. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on BSX. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Robert W. Baird boosted their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Piper Sandler raised their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Argus set a $130.00 price target on shares of Boston Scientific in a report on Tuesday, February 18th. Finally, UBS Group lifted their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Twenty-three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $114.74.

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.