Qtron Investments LLC Reduces Position in Boston Scientific Co. (NYSE:BSX)

Qtron Investments LLC reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,454 shares of the medical equipment provider’s stock after selling 2,983 shares during the period. Qtron Investments LLC’s holdings in Boston Scientific were worth $1,648,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. TFC Financial Management Inc. raised its holdings in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares during the period. Global Wealth Strategies & Associates grew its stake in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $29,000. Valley National Advisers Inc. boosted its holdings in shares of Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 286 shares during the last quarter. Finally, Fairway Wealth LLC purchased a new stake in Boston Scientific in the 4th quarter worth approximately $36,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX opened at $93.66 on Friday. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm’s 50 day moving average price is $100.54 and its two-hundred day moving average price is $94.02. The firm has a market cap of $138.53 billion, a P/E ratio of 74.93, a PEG ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last announced 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 return on equity of 17.80% and a net margin of 11.07%. On average, analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the subject of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Citigroup upped their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Morgan Stanley lifted their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Barclays increased their price objective on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company boosted their target price on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $109.04.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,183 shares of company stock valued at $13,948,476 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

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.