Nicholas Company Inc. Cuts Stock Position in Boston Scientific Co. (NYSE:BSX)

Nicholas Company Inc. lowered its stake in Boston Scientific Co. (NYSE:BSX) by 3.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 712,206 shares of the medical equipment provider’s stock after selling 24,519 shares during the period. Nicholas Company Inc.’s holdings in Boston Scientific were worth $63,614,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TFC Financial Management Inc. lifted its position 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 valued at $25,000 after acquiring an additional 210 shares in the last quarter. Dunhill Financial LLC raised its holdings in Boston Scientific by 86.4% in the 3rd 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 period. Global Wealth Strategies & Associates raised its holdings in Boston Scientific by 423.7% in the 4th 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 period. West Oak Capital LLC purchased a new stake in Boston Scientific in the 4th quarter worth $29,000. Finally, Valley National Advisers Inc. increased its stake in Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the transaction, the executive vice president now owns 25,443 shares in the company, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock worth $14,319,269 over the last three months. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Truist Financial raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Stifel Nicolaus raised their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. TD Cowen raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Morgan Stanley raised 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $108.91.

Boston Scientific Price Performance

Shares of BSX opened at $97.26 on Friday. The firm has a market capitalization of $143.53 billion, a PE ratio of 77.81, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 1-year low of $66.16 and a 1-year high of $107.17. The company’s fifty day moving average price is $101.05 and its 200-day moving average price is $91.76.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, equities research analysts predict 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.