K.J. Harrison & Partners Inc Sells 35,050 Shares of Boston Scientific Co. (NYSE:BSX)

K.J. Harrison & Partners Inc reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 50.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,250 shares of the medical equipment provider’s stock after selling 35,050 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Boston Scientific were worth $3,061,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. TFC Financial Management Inc. raised its position in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares during the last quarter. Dunhill Financial LLC increased its stake in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the period. Global Wealth Strategies & Associates lifted 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 worth $28,000 after acquiring an additional 250 shares during the period. West Oak Capital LLC acquired a new stake in shares of Boston Scientific during the 4th quarter worth approximately $29,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Boston Scientific during the 3rd quarter worth approximately $30,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Price Performance

BSX opened at $101.61 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock has a market capitalization of $149.96 billion, a P/E ratio of 81.29, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company’s 50 day simple moving average is $98.73 and its 200-day simple moving average is $89.95. Boston Scientific Co. has a one year low of $65.52 and a one year 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 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%. Sell-side analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Edward J. Ludwig sold 12,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total value of $1,265,760.00. Following the transaction, the director now directly owns 24,398 shares in the company, valued at $2,573,501.04. This trade represents a 32.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following 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. Insiders sold a total of 144,305 shares of company stock worth $14,954,985 over the last three months. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BSX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research report on Thursday, February 6th. Citigroup raised their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Friday, January 10th. Royal Bank of Canada raised their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company upped their price objective on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $107.39.

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.