Great Lakes Advisors LLC Cuts Stake in Boston Scientific Co. (NYSE:BSX)

Great Lakes Advisors LLC lessened its holdings in Boston Scientific Co. (NYSE:BSX) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,211,789 shares of the medical equipment provider’s stock after selling 65,630 shares during the quarter. Boston Scientific accounts for approximately 1.7% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Great Lakes Advisors LLC owned 0.15% of Boston Scientific worth $197,557,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BSX. TFC Financial Management Inc. increased its holdings in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 210 shares during the last quarter. Dunhill Financial LLC increased its holdings in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares during the last quarter. Global Wealth Strategies & Associates increased its holdings 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 buying an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new position in Boston Scientific during the fourth quarter worth $29,000. Finally, Capital Performance Advisors LLP acquired a new position in Boston Scientific during the third quarter worth $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 12,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the transaction, the director now owns 24,398 shares in the company, valued at $2,573,501.04. This trade represents a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,302 shares of company stock valued at $14,319,269. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BSX shares. Piper Sandler boosted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Truist Financial upped 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 Wednesday, December 18th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group upped their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Canaccord Genuity Group upped their price objective 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. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Trading Up 1.5 %

NYSE:BSX opened at $95.59 on Wednesday. Boston Scientific Co. has a one year low of $65.52 and a one year high of $107.17. 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 company’s 50-day simple moving average is $100.66 and its 200 day simple moving average is $91.49. The firm has a market capitalization of $141.07 billion, a P/E ratio of 76.47, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) 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 17.80%. As a group, analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

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.