Gulf International Bank UK Ltd Decreases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Gulf International Bank UK Ltd cut its stake in Boston Scientific Co. (NYSE:BSX) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,767 shares of the medical equipment provider’s stock after selling 1,283 shares during the period. Gulf International Bank UK Ltd’s holdings in Boston Scientific were worth $10,161,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BSX. TFC Financial Management Inc. lifted its position in Boston Scientific by 308.8% in the fourth 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 during the last quarter. Dunhill Financial LLC lifted its position in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. Global Wealth Strategies & Associates lifted its position in Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new stake in Boston Scientific during the 4th quarter worth $29,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Boston Scientific during the 3rd quarter worth $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on BSX. Canaccord Genuity Group raised their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Raymond James increased their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Barclays raised their price objective on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, UBS Group boosted their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.39.

Boston Scientific Stock Up 0.9 %

Shares of Boston Scientific stock opened at $101.61 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $149.96 billion, a price-to-earnings ratio of 81.29, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $65.52 and a twelve month high of $107.17. The business’s 50 day simple moving average is $98.73 and its 200-day simple moving average is $89.95.

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 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%. Equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 value of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at $2,660,580.24. The trade was a 19.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,305 shares of company stock worth $14,954,985. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific 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.