GraniteShares Advisors LLC Sells 2,450 Shares of Boston Scientific Co. (NYSE:BSX)

GraniteShares Advisors LLC reduced its stake in Boston Scientific Co. (NYSE:BSX) by 14.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,950 shares of the medical equipment provider’s stock after selling 2,450 shares during the period. GraniteShares Advisors LLC’s holdings in Boston Scientific were worth $1,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in BSX. AustralianSuper Pty Ltd boosted its holdings in shares of Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after acquiring an additional 2,615,903 shares during the period. State Street Corp boosted its stake in Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after buying an additional 1,389,172 shares during the period. Fisher Funds Management LTD bought a new stake in Boston Scientific during the fourth quarter valued at $94,710,000. Impax Asset Management Group plc boosted its stake in Boston Scientific by 17.5% during the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after buying an additional 815,403 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Boston Scientific by 2.2% during the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after buying an additional 718,515 shares during the period. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

Boston Scientific stock opened at $100.93 on Wednesday. The stock’s 50 day simple moving average is $98.46 and its two-hundred day simple moving average is $89.87. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The stock has a market cap of $148.94 billion, a price-to-earnings ratio of 80.74, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a fifty-two week low of $65.52 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at $2,966,329.50. The trade was a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,305 shares of company stock valued at $14,954,985 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BSX shares. UBS Group lifted their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Friday, January 10th. Truist Financial raised their price target on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Citigroup raised their price target on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.39.

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.