Gateway Investment Advisers LLC Trims Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Gateway Investment Advisers LLC lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 600,025 shares of the medical equipment provider’s stock after selling 5,381 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Boston Scientific were worth $53,594,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific during the third quarter worth approximately $28,000. Dunhill Financial LLC boosted its stake in Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. Global Wealth Strategies & Associates grew its holdings in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares in the last quarter. West Oak Capital LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth about $29,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at about $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,989 shares of company stock worth $2,702,261 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BSX. Royal Bank of Canada boosted their price objective on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. BTIG Research raised their price objective on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Evercore ISI boosted their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley raised their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.26.

Boston Scientific Stock Performance

Shares of NYSE BSX traded up $0.27 during midday trading on Thursday, reaching $97.16. 413,371 shares of the company traded hands, compared to its average volume of 4,857,495. The company has a market cap of $143.20 billion, a price-to-earnings ratio of 80.30, a PEG ratio of 2.48 and a beta of 0.80. The stock has a 50-day moving average price of $90.36 and a 200 day moving average price of $84.15. Boston Scientific Co. has a 52 week low of $59.85 and a 52 week high of $97.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. Sell-side analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share 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.