TIAA Trust National Association Reduces Stock Position in Boston Scientific Co. (NYSE:BSX)

TIAA Trust National Association lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 251,089 shares of the medical equipment provider’s stock after selling 4,263 shares during the period. TIAA Trust National Association’s holdings in Boston Scientific were worth $22,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BSX. TFC Financial Management Inc. boosted its stake in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Global Wealth Strategies & Associates boosted its position in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. West Oak Capital LLC purchased a new position in shares of Boston Scientific during the 4th quarter worth approximately $29,000. Dunhill Financial LLC raised its position in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its stake in shares of Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 286 shares during the period. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the subject of several recent research reports. Morgan Stanley raised 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. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Barclays increased 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. TD Cowen lifted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, 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 research report on Friday, January 10th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific Stock Up 0.4 %

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

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (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, analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 67,333 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the completion of the sale, the chief financial officer now owns 225,808 shares in the company, valued at $23,764,033.92. This represents a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock worth $14,319,269 in the last three months. Corporate insiders own 0.50% of the company’s stock.

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.