Royal London Asset Management Ltd. Sells 2,618 Shares of Boston Scientific Co. (NYSE:BSX)

Royal London Asset Management Ltd. reduced its position in shares of Boston Scientific Co. (NYSE:BSX) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 632,461 shares of the medical equipment provider’s stock after selling 2,618 shares during the period. Royal London Asset Management Ltd.’s holdings in Boston Scientific were worth $56,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TFC Financial Management Inc. grew its holdings in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares during the last quarter. Dunhill Financial LLC grew its holdings in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares during the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of 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 bought a new stake in shares of Boston Scientific during the fourth quarter worth about $29,000. Finally, Valley National Advisers Inc. lifted its stake in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 286 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 12,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total value of $1,265,760.00. Following the completion of the sale, the director now directly owns 24,398 shares of the company’s stock, valued at $2,573,501.04. The trade was a 32.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 137,302 shares of company stock valued at $14,319,269. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on BSX. Barclays lifted their price objective on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Piper Sandler lifted their price objective on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Truist Financial lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, TD Cowen lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Price Performance

Shares of BSX opened at $101.55 on Friday. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17. The business’s fifty day moving average is $101.57 and its 200 day moving average is $92.22. 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 stock has a market cap of $149.86 billion, a P/E ratio of 81.24, a P/E/G ratio of 2.79 and a beta of 0.77.

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