Gateway Investment Advisers LLC Decreases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Gateway Investment Advisers LLC cut its stake in Boston Scientific Co. (NYSE:BSX) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 600,025 shares of the medical equipment provider’s stock after selling 5,381 shares during the period. Gateway Investment Advisers LLC’s holdings in Boston Scientific were worth $53,594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Global Wealth Strategies & Associates raised its holdings in Boston Scientific by 423.7% during the fourth 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 last quarter. West Oak Capital LLC purchased a new position in shares of Boston Scientific in the fourth quarter valued at $29,000. Dunhill Financial LLC raised its stake in shares of Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific in the 3rd quarter worth about $28,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Boston Scientific in the 3rd quarter valued at about $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’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 transaction, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,989 shares of company stock valued at $2,702,261. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BSX shares. Truist Financial upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company increased their target price on Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada lifted their price objective on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $97.26.

Boston Scientific Trading Up 0.3 %

Shares of Boston Scientific stock traded up $0.27 during trading hours on Thursday, reaching $97.16. The stock had a trading volume of 413,371 shares, compared to its average volume of 4,857,495. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 1 year low of $59.85 and a 1 year high of $97.75. The firm has a market capitalization of $143.20 billion, a price-to-earnings ratio of 80.30, a P/E/G ratio of 2.48 and a beta of 0.80. The firm has a 50 day simple moving average of $90.36 and a two-hundred day simple moving average of $84.15.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the company posted $0.50 earnings per share. Boston Scientific’s revenue was up 19.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

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.