Perigon Wealth Management LLC Sells 3,987 Shares of Boston Scientific Co. (NYSE:BSX)

Perigon Wealth Management LLC reduced its stake in Boston Scientific Co. (NYSE:BSX) by 24.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,536 shares of the medical equipment provider’s stock after selling 3,987 shares during the quarter. Perigon Wealth Management LLC’s holdings in Boston Scientific were worth $1,231,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sunbelt Securities Inc. boosted its holdings in Boston Scientific by 85.8% in the second quarter. Sunbelt Securities Inc. now owns 1,213 shares of the medical equipment provider’s stock worth $93,000 after acquiring an additional 560 shares in the last quarter. Quarry LP bought a new position in Boston Scientific in the 2nd quarter worth about $33,000. EP Wealth Advisors LLC grew its position in Boston Scientific by 4.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 13,066 shares of the medical equipment provider’s stock valued at $1,006,000 after purchasing an additional 514 shares during the last quarter. Truist Financial Corp increased its stake in Boston Scientific by 1.1% during the 2nd quarter. Truist Financial Corp now owns 214,594 shares of the medical equipment provider’s stock valued at $16,526,000 after purchasing an additional 2,254 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Boston Scientific by 2.9% in the second quarter. Cetera Investment Advisers now owns 295,984 shares of the medical equipment provider’s stock worth $22,794,000 after buying an additional 8,399 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,989 shares of company stock valued at $2,702,261. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

BSX opened at $102.97 on Friday. The company has a 50 day simple moving average of $92.99 and a two-hundred day simple moving average of $85.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a market cap of $151.75 billion, a P/E ratio of 85.10, a PEG ratio of 2.63 and a beta of 0.80. Boston Scientific Co. has a 1-year low of $62.63 and a 1-year high of $104.25.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Canaccord Genuity Group increased their price target 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. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup lifted their price objective on Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, TD Cowen boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.26.

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.