Welch & Forbes LLC Trims Holdings in Boston Scientific Co. (NYSE:BSX)

Welch & Forbes LLC trimmed its position in Boston Scientific Co. (NYSE:BSX) by 20.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 205,284 shares of the medical equipment provider’s stock after selling 51,453 shares during the quarter. Welch & Forbes LLC’s holdings in Boston Scientific were worth $11,867,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Apollon Wealth Management LLC grew its holdings in Boston Scientific by 78.5% during the fourth quarter. Apollon Wealth Management LLC now owns 20,723 shares of the medical equipment provider’s stock worth $1,198,000 after acquiring an additional 9,111 shares during the period. Machina Capital S.A.S. acquired a new stake in Boston Scientific in the fourth quarter valued at approximately $1,072,000. Maryland State Retirement & Pension System grew its holdings in Boston Scientific by 3.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 113,868 shares of the medical equipment provider’s stock valued at $6,583,000 after purchasing an additional 3,282 shares during the period. Private Advisor Group LLC grew its holdings in Boston Scientific by 10.6% in the fourth quarter. Private Advisor Group LLC now owns 26,735 shares of the medical equipment provider’s stock valued at $1,546,000 after purchasing an additional 2,572 shares during the period. Finally, National Bank of Canada FI grew its holdings in Boston Scientific by 60.2% in the fourth quarter. National Bank of Canada FI now owns 850,070 shares of the medical equipment provider’s stock valued at $49,163,000 after purchasing an additional 319,376 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. TD Cowen raised their price objective on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Oppenheimer lifted their price target on Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. lifted their price target on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Barclays lifted their price target on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, Mizuho lifted their price target on Boston Scientific from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.09.

Insiders Place Their Bets

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the sale, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. Insiders have sold 78,384 shares of company stock worth $5,395,560 over the last three months. Company insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 1.2 %

NYSE BSX traded up $0.88 on Tuesday, reaching $73.43. The stock had a trading volume of 4,151,495 shares, compared to its average volume of 6,613,376. The stock has a fifty day moving average price of $68.68 and a two-hundred day moving average price of $61.74. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $74.39. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $107.73 billion, a price-to-earnings ratio of 61.71, a P/E/G ratio of 2.51 and a beta of 0.77.

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.