Boston Scientific Co. (NYSE:BSX) Shares Sold by NS Partners Ltd

NS Partners Ltd cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 362,485 shares of the medical equipment provider’s stock after selling 6,046 shares during the period. Boston Scientific comprises approximately 1.3% of NS Partners Ltd’s investment portfolio, making the stock its 24th biggest holding. NS Partners Ltd’s holdings in Boston Scientific were worth $32,377,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in Boston Scientific by 18.1% during the third quarter. Van ECK Associates Corp now owns 57,894 shares of the medical equipment provider’s stock valued at $5,063,000 after acquiring an additional 8,882 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Boston Scientific by 17.5% in the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after purchasing an additional 815,403 shares during the period. Avidian Wealth Enterprises LLC grew its position in Boston Scientific by 6.1% during the third quarter. Avidian Wealth Enterprises LLC now owns 4,713 shares of the medical equipment provider’s stock valued at $395,000 after buying an additional 269 shares during the period. Concurrent Investment Advisors LLC increased its holdings in Boston Scientific by 5.8% in the third quarter. Concurrent Investment Advisors LLC now owns 9,724 shares of the medical equipment provider’s stock valued at $815,000 after buying an additional 530 shares in the last quarter. Finally, M&G PLC purchased a new position in shares of Boston Scientific in the 3rd quarter valued at about $1,327,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on BSX. Barclays raised their price objective on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Canaccord Genuity Group increased their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Truist Financial boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. UBS Group lifted their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Argus set a $130.00 target price on Boston Scientific in a report on Tuesday, February 18th. Two investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.91.

Boston Scientific Price Performance

Boston Scientific stock opened at $99.15 on Friday. 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 company has a market capitalization of $146.33 billion, a price-to-earnings ratio of 79.32, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company’s 50 day simple moving average is $100.45 and its 200-day simple moving average is $91.10. Boston Scientific Co. has a 1 year low of $65.52 and a 1 year high of $107.17.

Boston Scientific (NYSE:BSX) last announced 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 return on equity of 17.80% and a net margin of 11.07%. As a group, equities research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. This represents a 75.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel J. Brennan sold 67,333 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the transaction, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at $23,764,033.92. This represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,322 shares of company stock worth $14,321,068. 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.