Impax Asset Management Group plc Decreases Stock Position in Boston Scientific Co. (NYSE:BSX)

Impax Asset Management Group plc decreased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 17.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,505,479 shares of the medical equipment provider’s stock after selling 964,695 shares during the period. Boston Scientific makes up approximately 1.8% of Impax Asset Management Group plc’s investment portfolio, making the stock its 13th largest holding. Impax Asset Management Group plc’s holdings in Boston Scientific were worth $401,143,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Private Advisor Group LLC grew its position in Boston Scientific by 2.7% during the 3rd quarter. Private Advisor Group LLC now owns 36,003 shares of the medical equipment provider’s stock worth $3,017,000 after purchasing an additional 944 shares during the last quarter. PFG Investments LLC grew its holdings in shares of Boston Scientific by 3.3% during the third quarter. PFG Investments LLC now owns 7,988 shares of the medical equipment provider’s stock valued at $669,000 after buying an additional 258 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Boston Scientific by 123.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 158,538 shares of the medical equipment provider’s stock valued at $13,285,000 after acquiring an additional 87,470 shares during the period. State of Alaska Department of Revenue raised its stake in Boston Scientific by 1.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 178,166 shares of the medical equipment provider’s stock worth $14,929,000 after acquiring an additional 2,955 shares during the last quarter. Finally, Cavalier Investments LLC lifted its position in Boston Scientific by 6.7% during the 3rd quarter. Cavalier Investments LLC now owns 71,841 shares of the medical equipment provider’s stock worth $6,020,000 after acquiring an additional 4,485 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $104.44 on Monday. 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 firm has a fifty day moving average of $97.98 and a 200 day moving average of $89.49. The firm has a market cap of $154.12 billion, a PE ratio of 83.55, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a one year low of $65.52 and a one year high of $107.17.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Thursday. UBS Group increased their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Morgan Stanley boosted their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company upped their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.39.

Insider Buying and Selling at Boston Scientific

In other news, CFO Daniel J. Brennan sold 67,333 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the transaction, the chief financial officer now directly owns 225,808 shares in the company, valued at $23,764,033.92. The trade was a 22.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 disclosure for this sale can be found here. Insiders sold 139,630 shares of company stock valued at $14,467,616 over the last quarter. 0.50% of the stock is currently owned by 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.