Boston Scientific Co. (NYSE:BSX) Shares Sold by EDENTREE ASSET MANAGEMENT Ltd

EDENTREE ASSET MANAGEMENT Ltd lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,575 shares of the medical equipment provider’s stock after selling 1,600 shares during the quarter. Boston Scientific accounts for 3.0% of EDENTREE ASSET MANAGEMENT Ltd’s portfolio, making the stock its 6th largest position. EDENTREE ASSET MANAGEMENT Ltd’s holdings in Boston Scientific were worth $10,325,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. TFC Financial Management Inc. grew its stake in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Colonial Trust Co SC grew its stake in Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 260 shares in the last quarter. Valley National Advisers Inc. grew its stake in Boston Scientific by 262.4% during the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 286 shares in the last quarter. Fairway Wealth LLC acquired a new stake in Boston Scientific during the 4th quarter valued at approximately $36,000. Finally, Global Trust Asset Management LLC grew its stake in Boston Scientific by 64.5% during the 4th quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider’s stock valued at $39,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Down 1.8%

NYSE:BSX opened at $104.67 on Thursday. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.17. The firm has a market capitalization of $154.85 billion, a P/E ratio of 83.73, a P/E/G ratio of 2.79 and a beta of 0.68. 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 business has a 50 day simple moving average of $99.76 and a 200 day simple moving average of $97.02.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. Equities research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on BSX. Royal Bank of Canada raised their price objective on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. UBS Group lifted their target price on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Raymond James lifted their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Citigroup lifted their target price on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Barclays lifted their target price on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Twenty-three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $114.74.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This trade represents a 14.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,830 shares of company stock worth $20,043,415. 0.50% of the stock is owned by company insiders.

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.