Picton Mahoney Asset Management Sells 2,858 Shares of Boston Scientific Co. (NYSE:BSX)

Picton Mahoney Asset Management decreased its position in shares of Boston Scientific Co. (NYSE:BSX) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 281,121 shares of the medical equipment provider’s stock after selling 2,858 shares during the period. Boston Scientific makes up about 0.7% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 24th largest position. Picton Mahoney Asset Management’s holdings in Boston Scientific were worth $25,112,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BSX. TFC Financial Management Inc. grew its holdings in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares during the last quarter. Dunhill Financial LLC grew its holdings in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares during the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC bought a new position in shares of Boston Scientific in the fourth quarter worth about $29,000. Finally, Valley National Advisers Inc. grew its holdings in shares of 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 last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on BSX. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a report on Friday, January 10th. Citigroup upped their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Wells Fargo & Company upped their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley upped their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Insider Buying and Selling

In related news, CFO Daniel J. Brennan sold 15,087 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the transaction, the chief financial officer now owns 241,451 shares in the company, valued at approximately $25,369,256.57. This represents a 5.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,302 shares of company stock worth $14,319,269. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $97.26 on Friday. The firm has a market capitalization of $143.53 billion, a P/E ratio of 77.81, a PEG ratio of 2.79 and a beta of 0.77. 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 has a 50 day moving average price of $101.05 and a 200 day moving average price of $91.67. Boston Scientific Co. has a 52 week low of $65.87 and a 52 week high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Sell-side analysts expect that Boston Scientific Co. will post 2.85 EPS 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.