Gladstone Institutional Advisory LLC reduced its stake in shares of Boston Scientific Co. (NYSE:BSX – Free Report) by 7.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,541 shares of the medical equipment provider’s stock after selling 558 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Boston Scientific were worth $584,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Boston Scientific by 9.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 119 shares during the last quarter. Adero Partners LLC grew its stake in shares of Boston Scientific by 3.3% during the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after buying an additional 120 shares during the last quarter. Grove Bank & Trust grew its stake 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 valued at $261,000 after buying an additional 122 shares during the last quarter. PFG Investments LLC grew its stake in shares of Boston Scientific by 1.6% during 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 during the last quarter. Finally, Stonegate Investment Group LLC grew its stake in shares of Boston Scientific by 1.6% during the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock valued at $699,000 after buying an additional 126 shares during the last quarter. 89.07% of the stock is owned by institutional investors.
Boston Scientific Price Performance
BSX stock opened at $106.20 on Friday. The firm has a 50 day moving average price of $96.11 and a 200-day moving average price of $87.97. Boston Scientific Co. has a 52-week low of $65.33 and a 52-week high of $107.17. The firm has a market capitalization of $156.51 billion, a price-to-earnings ratio of 84.96, a PEG ratio of 2.79 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on BSX shares. Piper Sandler raised their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Truist Financial raised their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Barclays raised their target price on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Bank of America raised their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen raised their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and an average target price of $107.39.
Check Out Our Latest Analysis on BSX
Insider Activity at Boston Scientific
In other news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. This represents a 93.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,326 shares of company stock valued at $8,673,948. 0.50% of the stock is owned by corporate insiders.
Boston Scientific Company 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.
Further Reading
- Five stocks we like better than Boston Scientific
- 3 Best Fintech Stocks for a Portfolio Boost
- NVIDIA’s Hidden AI Play: The Truth Behind Its WeRide Investment
- How Investors Can Find the Best Cheap Dividend Stocks
- Up 50% in January, Twilio’s Pullback Is the Time to Buy
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- Watch These 3 Stocks—High Short Interest and Big Upside Potential
Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Co. (NYSE:BSX – Free Report).
Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.