Soros Fund Management LLC Reduces Holdings in Boston Scientific Co. (NYSE:BSX)

Soros Fund Management LLC decreased its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 71.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,000 shares of the medical equipment provider's stock after selling 250,001 shares during the period. Soros Fund Management LLC's holdings in Boston Scientific were worth $8,932,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BSX. TFC Financial Management Inc. increased its stake in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 210 shares during the last quarter. Global Wealth Strategies & Associates raised its stake in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC bought a new position in Boston Scientific during the fourth quarter valued at $29,000. Valley National Advisers Inc. lifted its position in Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 286 shares during the last quarter. Finally, Fairway Wealth LLC purchased a new position in shares of Boston Scientific in the 4th quarter worth $36,000. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 6,528 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the sale, the executive vice president now directly owns 26,449 shares in the company, valued at approximately $2,776,351.53. This trade represents a 19.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares of the company's stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,009 shares of company stock valued at $14,407,381. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Up 0.3 %

Shares of BSX stock traded up $0.29 on Thursday, hitting $103.16. The stock had a trading volume of 8,205,533 shares, compared to its average volume of 6,347,820. Boston Scientific Co. has a one year low of $70.97 and a one year high of $107.17. The business has a 50 day moving average price of $98.51 and a 200 day moving average price of $95.24. The company has a market cap of $152.59 billion, a PE ratio of 82.53, a P/E/G ratio of 2.79 and a beta of 0.73. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BSX shares. BTIG Research reaffirmed a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Wells Fargo & Company lifted their target price on Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Evercore ISI increased their price target on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Piper Sandler lifted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley increased their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Twenty-three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $114.52.

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.