Boston Scientific Co. (NYSE:BSX) Stake Trimmed by Fernwood Investment Management LLC

Fernwood Investment Management LLC lowered its stake in Boston Scientific Co. (NYSE:BSX) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 21,174 shares of the medical equipment provider’s stock after selling 450 shares during the period. Fernwood Investment Management LLC’s holdings in Boston Scientific were worth $1,224,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BSX. FMR LLC boosted its position in Boston Scientific by 6.8% during the 3rd quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after acquiring an additional 8,045,263 shares during the period. Vanguard Group Inc. boosted its position in Boston Scientific by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock worth $6,534,969,000 after acquiring an additional 1,525,432 shares during the period. Wellington Management Group LLP boosted its position in Boston Scientific by 5.9% during the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after acquiring an additional 2,336,348 shares during the period. Morgan Stanley boosted its position in Boston Scientific by 2.3% during the 3rd quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock worth $1,119,378,000 after acquiring an additional 481,891 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Boston Scientific by 0.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 17,207,345 shares of the medical equipment provider’s stock worth $908,548,000 after acquiring an additional 51,293 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX traded down $0.69 on Monday, reaching $72.48. 9,463,878 shares of the stock traded hands, compared to its average volume of 6,623,186. The firm has a market cap of $106.34 billion, a price-to-earnings ratio of 61.49, a P/E/G ratio of 2.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $74.39. The stock’s 50-day moving average price is $67.82 and its 200-day moving average price is $60.63.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same period in the previous year, the business posted $0.45 earnings per share. Equities analysts forecast that Boston Scientific Co. will post 2.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of research reports. Evercore ISI raised their price objective on Boston Scientific from $72.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup lifted their price target on Boston Scientific from $79.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada lifted their price target on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday. Oppenheimer lifted their price target on Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a report on Thursday, February 1st. Finally, Needham & Company LLC lifted their price target on Boston Scientific from $71.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $75.09.

Insider Activity at Boston Scientific

In related news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares in the company, valued at approximately $17,883,756.12. The disclosure for this sale can be found here. Insiders have sold a total of 60,797 shares of company stock valued at $4,138,090 in the last 90 days. 0.50% of the stock is owned by corporate 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.