Boston Scientific Co. (NYSE:BSX) Shares Sold by Generate Investment Management Ltd

Generate Investment Management Ltd cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 1.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 182,978 shares of the medical equipment provider’s stock after selling 2,958 shares during the period. Generate Investment Management Ltd’s holdings in Boston Scientific were worth $16,344,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates boosted its position in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $29,000. Dunhill Financial LLC lifted its position in shares of Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 152 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Boston Scientific in the 3rd quarter valued at $28,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Boston Scientific in the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the topic of several recent analyst reports. TD Cowen increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Truist Financial raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Thursday. Raymond James raised their target price on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday. Finally, Royal Bank of Canada boosted their price target on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boston Scientific has an average rating of “Buy” and a consensus price target of $104.26.

Boston Scientific Price Performance

BSX stock opened at $105.01 on Friday. Boston Scientific Co. has a 52-week low of $64.39 and a 52-week high of $107.17. 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 stock has a market cap of $154.76 billion, a price-to-earnings ratio of 86.78, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. The business has a fifty day moving average of $94.58 and a two-hundred day moving average of $86.96.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. As a group, research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the sale, the executive vice president now owns 29,308 shares in the company, 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. In the last quarter, insiders sold 47,302 shares of company stock valued at $4,464,725. Company 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.