Boston Scientific Co. (NYSE:BSX) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in Boston Scientific Co. (NYSE:BSX) by 33.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,406 shares of the medical equipment provider’s stock after selling 1,194 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Boston Scientific were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of BSX. Empowered Funds LLC increased its holdings in shares of Boston Scientific by 7.9% in the 3rd quarter. Empowered Funds LLC now owns 23,413 shares of the medical equipment provider’s stock valued at $1,962,000 after acquiring an additional 1,715 shares during the period. Avior Wealth Management LLC raised its position in Boston Scientific by 3.9% during the 3rd quarter. Avior Wealth Management LLC now owns 11,632 shares of the medical equipment provider’s stock worth $975,000 after buying an additional 436 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Boston Scientific by 839.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 218,756 shares of the medical equipment provider’s stock worth $18,332,000 after buying an additional 195,461 shares during the last quarter. Advisors Asset Management Inc. raised its position in Boston Scientific by 21.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 24,060 shares of the medical equipment provider’s stock worth $2,016,000 after buying an additional 4,233 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in Boston Scientific by 41.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,039 shares of the medical equipment provider’s stock worth $422,000 after buying an additional 1,475 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’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 transaction of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares in the company, valued at $2,966,329.50. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,302 shares of company stock valued at $14,319,269. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Boston Scientific stock opened at $101.55 on Friday. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17. The stock has a market capitalization of $149.86 billion, a P/E ratio of 81.24, a P/E/G ratio of 2.79 and a beta of 0.77. The firm’s 50-day moving average is $101.57 and its two-hundred day moving average is $92.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

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

Analyst Ratings Changes

BSX has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, February 6th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. JPMorgan Chase & Co. increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Barclays increased their price target on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $108.91.

Boston Scientific 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.