Boston Scientific Co. (NYSE:BSX) Stake Reduced by Cerity Partners LLC

Cerity Partners LLC trimmed its stake in Boston Scientific Co. (NYSE:BSX) by 10.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 637,509 shares of the medical equipment provider’s stock after selling 74,373 shares during the quarter. Cerity Partners LLC’s holdings in Boston Scientific were worth $55,869,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BSX. Mechanics Bank Trust Department acquired a new position in Boston Scientific during the 4th quarter valued at about $415,000. Highland Capital Management LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth approximately $4,887,000. Covenant Asset Management LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth approximately $3,405,000. Brookstone Capital Management grew its holdings in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after buying an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. increased its position in Boston Scientific by 31.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after acquiring an additional 4,702 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BSX shares. JPMorgan Chase & Co. increased their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Raymond James increased their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. TD Cowen increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Argus set a $130.00 target price on Boston Scientific in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.91.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, February 3rd. The shares were 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 directly owns 5,502 shares in the company, valued at $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the transaction, the executive vice president now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 133,183 shares of company stock valued at $13,948,476. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $91.44 on Tuesday. The stock has a market cap of $135.25 billion, a PE ratio of 73.15, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month 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 business has a fifty day simple moving average of $101.68 and a 200-day simple moving average of $93.76.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

About Boston Scientific

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.