Empirical Finance LLC Cuts Holdings in Boston Scientific Co. (NYSE:BSX)

Empirical Finance LLC decreased its stake in Boston Scientific Co. (NYSE:BSX) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,020 shares of the medical equipment provider’s stock after selling 619 shares during the period. Empirical Finance LLC’s holdings in Boston Scientific were worth $4,378,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BSX. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific in the 3rd quarter worth approximately $28,000. Dunhill Financial LLC grew its holdings in Boston Scientific by 86.4% in the third 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 holdings in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after acquiring 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. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Boston Scientific in the third quarter worth $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

BSX stock opened at $105.33 on Friday. The company has a market capitalization of $155.24 billion, a PE ratio of 84.26, a P/E/G ratio of 2.79 and a beta of 0.80. 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’s 50 day moving average is $94.88 and its two-hundred day moving average is $87.15. Boston Scientific Co. has a 52-week low of $64.39 and a 52-week high of $107.17.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. Analysts predict that Boston Scientific Co. will post 2.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BSX shares. Raymond James upped their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a report on Thursday. Morgan Stanley boosted their price target on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday. Sanford C. Bernstein lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, 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. One equities research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $106.00.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,302 shares of company stock valued at $4,464,725 over the last three months. 0.50% of the stock is owned by insiders.

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.