Envestnet Asset Management Inc. Trims Holdings in Boston Scientific Co. (BSX)

Envestnet Asset Management Inc. reduced its stake in Boston Scientific Co. (NYSE:BSX) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 77,672 shares of the medical equipment provider’s stock after selling 5,918 shares during the period. Envestnet Asset Management Inc.’s holdings in Boston Scientific were worth $1,925,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BSX. Arrowstreet Capital Limited Partnership increased its holdings in Boston Scientific by 371.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,149,847 shares of the medical equipment provider’s stock valued at $177,245,000 after acquiring an additional 5,633,721 shares during the last quarter. Prudential Financial Inc. increased its holdings in Boston Scientific by 149.1% in the 3rd quarter. Prudential Financial Inc. now owns 4,762,674 shares of the medical equipment provider’s stock valued at $138,928,000 after acquiring an additional 2,850,630 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Boston Scientific by 59.0% in the 4th quarter. Two Sigma Advisers LP now owns 7,426,814 shares of the medical equipment provider’s stock valued at $184,111,000 after acquiring an additional 2,756,504 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Boston Scientific by 29.3% in the 4th quarter. Wells Fargo & Company MN now owns 11,945,671 shares of the medical equipment provider’s stock valued at $296,133,000 after acquiring an additional 2,705,194 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in Boston Scientific by 79.2% in the 4th quarter. Two Sigma Investments LP now owns 3,702,539 shares of the medical equipment provider’s stock valued at $91,786,000 after acquiring an additional 1,635,881 shares during the last quarter. Institutional investors own 91.04% of the company’s stock.

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A number of brokerages have issued reports on BSX. Barclays reiterated a “buy” rating and issued a $32.00 price target on shares of Boston Scientific in a report on Wednesday, January 10th. Bank of America lifted their price target on shares of Boston Scientific from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada reiterated a “top pick” rating and issued a $32.00 price target on shares of Boston Scientific in a report on Monday, March 5th. TheStreet upgraded shares of Boston Scientific from a “c+” rating to a “b” rating in a report on Thursday, January 18th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Boston Scientific in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $31.45.

BSX stock opened at $27.35 on Monday. Boston Scientific Co. has a 12 month low of $24.31 and a 12 month high of $29.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.68 and a quick ratio of 0.49. The stock has a market cap of $37,603.82, a P/E ratio of 21.71, a PEG ratio of 1.98 and a beta of 0.81.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Thursday, February 1st. The medical equipment provider reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Boston Scientific had a net margin of 1.15% and a return on equity of 24.27%. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the previous year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. research analysts expect that Boston Scientific Co. will post 1.37 earnings per share for the current year.

In related news, EVP David A. Pierce sold 5,000 shares of Boston Scientific stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $27.22, for a total transaction of $136,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Bradley Sorenson sold 2,200 shares of Boston Scientific stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $27.63, for a total transaction of $60,786.00. Following the transaction, the senior vice president now directly owns 34,636 shares of the company’s stock, valued at $956,992.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 252,818 shares of company stock valued at $6,879,888. 0.74% of the stock is owned by corporate insiders.

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Boston Scientific Company Profile

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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