Perpetual Ltd Cuts Stake in Boston Scientific Co. (NYSE:BSX)

Perpetual Ltd cut its position in Boston Scientific Co. (NYSE:BSX) by 9.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,259 shares of the medical equipment provider’s stock after selling 236 shares during the period. Perpetual Ltd’s holdings in Boston Scientific were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific in the 3rd quarter valued at approximately $28,000. Dunhill Financial LLC increased 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 valued at $28,000 after purchasing an additional 152 shares during the last quarter. Global Wealth Strategies & Associates increased its position in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $29,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Boston Scientific in the 3rd quarter valued at $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Shares of BSX opened at $101.66 on Friday. The company has a 50-day simple moving average of $91.68 and a 200-day simple moving average of $85.04. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $149.83 billion, a PE ratio of 84.02, a P/E/G ratio of 2.64 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $59.85 and a 52-week high of $101.75.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. Equities research analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Activity

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the transaction, the executive vice president now owns 29,308 shares of the company’s stock, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,989 shares of company stock worth $2,702,261 in the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BSX has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Truist Financial upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Bank of America upped their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Canaccord Genuity Group upped their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.26.

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.