Polar Capital Holdings Plc Sells 71,696 Shares of Boston Scientific Co. (NYSE:BSX)

Polar Capital Holdings Plc lowered its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 474,680 shares of the medical equipment provider's stock after selling 71,696 shares during the period. Polar Capital Holdings Plc's holdings in Boston Scientific were worth $42,398,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Capital Investment Advisors LLC lifted its position in Boston Scientific by 12.2% during the fourth quarter. Capital Investment Advisors LLC now owns 2,899 shares of the medical equipment provider's stock worth $259,000 after buying an additional 315 shares during the period. Moody National Bank Trust Division purchased a new position in Boston Scientific during the fourth quarter worth about $249,000. Claro Advisors LLC purchased a new position in Boston Scientific during the fourth quarter worth about $244,000. Miracle Mile Advisors LLC lifted its position in Boston Scientific by 4.7% during the fourth quarter. Miracle Mile Advisors LLC now owns 5,498 shares of the medical equipment provider's stock worth $491,000 after buying an additional 246 shares during the period. Finally, BCS Wealth Management purchased a new position in Boston Scientific during the fourth quarter worth about $388,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Activity

In other news, EVP John Bradley Sorenson sold 2,657 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $104.41, for a total transaction of $277,417.37. Following the completion of the sale, the executive vice president now owns 24,294 shares in the company, valued at $2,536,536.54. The trade was a 9.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the completion of the sale, the chief executive officer now owns 1,535,706 shares of the company's stock, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 265,820 shares of company stock worth $27,406,958 in the last quarter. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BSX shares. Wells Fargo & Company raised their price objective on Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Raymond James raised their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a report on Thursday, February 6th. Truist Financial raised their price objective on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Robert W. Baird raised their price objective on Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, StockNews.com upgraded Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Twenty-three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of "Buy" and an average price target of $114.74.

Boston Scientific Trading Up 1.1%

Boston Scientific stock traded up $1.14 during mid-day trading on Friday, hitting $106.00. 7,288,742 shares of the company's stock were exchanged, compared to its average volume of 6,362,890. The firm has a market capitalization of $156.83 billion, a P/E ratio of 84.80, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. 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's 50 day simple moving average is $99.18 and its 200-day simple moving average is $96.66.

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 the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter last year, the business posted $0.56 EPS. The company's revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.