Zacks Investment Management Sells 16,224 Shares of Boston Scientific Co. (NYSE:BSX)

Zacks Investment Management lessened its holdings in Boston Scientific Co. (NYSE:BSX) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 239,594 shares of the medical equipment provider’s stock after selling 16,224 shares during the quarter. Zacks Investment Management’s holdings in Boston Scientific were worth $21,401,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Boston Scientific during the 4th quarter valued at $1,762,522,000. Wellington Management Group LLP boosted its stake in Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after acquiring an additional 3,344,571 shares in the last quarter. Axiom Investors LLC DE boosted its position in shares of Boston Scientific by 208.2% in the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock worth $335,167,000 after purchasing an additional 2,535,007 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Boston Scientific in the fourth quarter worth $190,780,000. Finally, Invesco Ltd. grew its position in Boston Scientific by 13.6% during the 4th quarter. Invesco Ltd. now owns 15,790,666 shares of the medical equipment provider’s stock valued at $1,410,422,000 after purchasing an additional 1,893,012 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

BSX stock opened at $95.28 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The stock has a market cap of $140.93 billion, a PE ratio of 76.22, a P/E/G ratio of 2.79 and a beta of 0.73. The company has a 50-day moving average price of $99.90 and a 200 day moving average price of $94.18.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS 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%. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Raymond James lifted 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. Argus set a $130.00 target price on shares of Boston Scientific in a report on Tuesday, February 18th. Barclays raised their price objective on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Truist Financial lowered their target price on shares of Boston Scientific from $120.00 to $113.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Piper Sandler boosted their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $110.22.

Insider Transactions at Boston Scientific

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction 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. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the sale, the executive vice president now directly owns 25,443 shares of the company’s stock, valued at approximately $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,183 shares of company stock worth $13,948,476. 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.