Boston Scientific Co. (NYSE:BSX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 20.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,738,806 shares of the medical equipment provider’s stock after selling 2,743,301 shares during the quarter. Legal & General Group Plc’s holdings in Boston Scientific were worth $959,190,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Mechanics Bank Trust Department bought a new position in Boston Scientific in the 4th quarter valued at about $415,000. Highland Capital Management LLC acquired a new position in Boston Scientific during the fourth quarter worth about $4,887,000. Covenant Asset Management LLC acquired a new stake in Boston Scientific in the 4th quarter valued at about $3,405,000. Brookstone Capital Management boosted its position in shares of Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. raised its holdings in shares of Boston Scientific by 31.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after purchasing an additional 4,702 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction 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 $560,103.60. This 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, CFO Daniel J. Brennan sold 15,087 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares in the company, valued at $25,369,256.57. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,183 shares of company stock valued at $13,948,476. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Morgan Stanley lifted their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. UBS Group upped their target price on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Raymond James lifted their price target on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company upped their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Price Performance

Shares of BSX opened at $89.78 on Monday. 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 firm has a market cap of $132.78 billion, a PE ratio of 71.82, a PEG ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The firm’s 50 day moving average price is $101.90 and its 200 day moving average price is $93.71.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 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%. As a group, research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

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.