Bessemer Group Inc. Has $1.86 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

Bessemer Group Inc. cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,831 shares of the medical equipment provider’s stock after selling 2,881 shares during the period. Bessemer Group Inc.’s holdings in Boston Scientific were worth $1,860,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Mechanics Bank Trust Department acquired a new stake in Boston Scientific during the 4th quarter worth approximately $415,000. Highland Capital Management LLC bought a new stake in shares of Boston Scientific in the fourth quarter valued at about $4,887,000. Covenant Asset Management LLC acquired a new position in shares of Boston Scientific in the fourth quarter valued at about $3,405,000. Brookstone Capital Management increased its position in Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after acquiring an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. raised its stake in Boston Scientific by 31.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after purchasing an additional 4,702 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the sale, the executive vice president now owns 28,454 shares in the company, valued at $2,966,329.50. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the transaction, the executive vice president now directly owns 26,449 shares in the company, valued at approximately $2,776,351.53. This represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,183 shares of company stock valued at $13,948,476 over the last ninety days. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on BSX. Royal Bank of Canada increased their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Raymond James increased their price target on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Monday, March 3rd. Morgan Stanley increased their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $109.04.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $93.66 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. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week high of $107.17. The firm has a market cap of $138.53 billion, a PE ratio of 74.93, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The firm’s fifty day moving average is $100.54 and its 200-day moving average is $94.10.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate 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 predict that Boston Scientific Co. will post 2.85 earnings per share for the current 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.