Mizuho Securities Co. Ltd. Sells 590 Shares of Boston Scientific Co. (NYSE:BSX)

Mizuho Securities Co. Ltd. trimmed its stake in Boston Scientific Co. (NYSE:BSX) by 59.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 410 shares of the medical equipment provider’s stock after selling 590 shares during the quarter. Mizuho Securities Co. Ltd.’s holdings in Boston Scientific were worth $37,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Parnassus Investments LLC boosted its holdings in shares of Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after acquiring an additional 97 shares in the last quarter. PDS Planning Inc raised its position in Boston Scientific by 1.5% in the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock valued at $668,000 after purchasing an additional 113 shares during the last quarter. Adero Partners LLC boosted its stake in Boston Scientific by 3.3% in the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after purchasing an additional 120 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of Boston Scientific by 4.4% during the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after purchasing an additional 122 shares during the last quarter. Finally, PFG Investments LLC increased its stake in shares of Boston Scientific by 1.6% in the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock valued at $725,000 after buying an additional 125 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Up 0.4 %

NYSE BSX opened at $103.09 on Wednesday. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The firm has a market cap of $152.48 billion, a P/E ratio of 82.47, a P/E/G ratio of 2.79 and a beta of 0.77. The stock’s 50-day moving average is $101.99 and its 200-day moving average is $92.80.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 approximately $560,103.60. This represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,302 shares of company stock valued at $14,319,269. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Friday, January 10th. Citigroup increased their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Truist Financial boosted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Morgan Stanley increased their price objective on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus boosted their target price on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

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.