CPA Asset Management LLC Sells 171 Shares of Boston Scientific Co. (NYSE:BSX)

CPA Asset Management LLC lowered its position in Boston Scientific Co. (NYSE:BSX) by 3.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,797 shares of the medical equipment provider’s stock after selling 171 shares during the period. CPA Asset Management LLC’s holdings in Boston Scientific were worth $428,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. State Street Corp increased its holdings in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP increased its holdings in Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after purchasing an additional 718,515 shares in the last quarter. Geode Capital Management LLC increased its holdings in Boston Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after purchasing an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Boston Scientific by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after purchasing an additional 64,720 shares in the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Boston Scientific by 17.5% during the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after purchasing an additional 815,403 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 3.3 %

Boston Scientific stock opened at $100.93 on Wednesday. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17. 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 capitalization of $148.94 billion, a P/E ratio of 80.74, a PEG ratio of 2.79 and a beta of 0.80. The stock has a 50-day simple moving average of $98.46 and a 200 day simple moving average of $89.87.

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

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the sale, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. The trade was a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, the executive vice president now owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. This represents a 19.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,305 shares of company stock worth $14,954,985 over the last quarter. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BSX. Royal Bank of Canada increased their target price on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. increased 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. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Thursday, February 6th. TD Cowen raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Truist Financial lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.39.

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.