Boston Scientific Co. (NYSE:BSX) Shares Sold by Fernwood Investment Management LLC

Fernwood Investment Management LLC lowered its position in Boston Scientific Co. (NYSE:BSX) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,074 shares of the medical equipment provider’s stock after selling 250 shares during the period. Fernwood Investment Management LLC’s holdings in Boston Scientific were worth $1,704,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Quarry LP boosted its stake in Boston Scientific by 81.4% during the third quarter. Quarry LP now owns 780 shares of the medical equipment provider’s stock worth $65,000 after buying an additional 350 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Boston Scientific in the 3rd quarter valued at about $1,635,000. EP Wealth Advisors LLC boosted its holdings in Boston Scientific by 22.0% in the third quarter. EP Wealth Advisors LLC now owns 15,941 shares of the medical equipment provider’s stock valued at $1,336,000 after purchasing an additional 2,875 shares in the last quarter. XTX Topco Ltd acquired a new stake in Boston Scientific during the 3rd quarter worth $1,134,000. Finally, MML Investors Services LLC grew its stake in Boston Scientific by 4.4% during the 3rd quarter. MML Investors Services LLC now owns 88,808 shares of the medical equipment provider’s stock worth $7,442,000 after buying an additional 3,771 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $90.12 on Wednesday. Boston Scientific Co. has a 1-year low of $66.80 and a 1-year high of $107.17. The firm has a fifty day simple moving average of $101.18 and a 200-day simple moving average of $93.78. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $133.29 billion, a price-to-earnings ratio of 72.09, a PEG ratio of 2.79 and a beta of 0.73.

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

Insider Buying and Selling

In other Boston Scientific news, EVP John Bradley Sorenson sold 6,528 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the completion of the transaction, the executive vice president now directly owns 26,449 shares of the company’s stock, valued at approximately $2,776,351.53. The trade was a 19.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,183 shares of company stock worth $13,948,476 in the last quarter. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BSX has been the subject of several recent analyst reports. Stifel Nicolaus raised their price target on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Friday, January 10th. Argus set a $130.00 target price on shares of Boston Scientific in a research note on Tuesday, February 18th. TD Cowen increased their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Raymond James increased their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $108.91.

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.