Welch & Forbes LLC Sells 5,547 Shares of Boston Scientific Co. (NYSE:BSX)

Welch & Forbes LLC reduced its position in shares of Boston Scientific Co. (NYSE:BSX) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 146,466 shares of the medical equipment provider’s stock after selling 5,547 shares during the period. Welch & Forbes LLC’s holdings in Boston Scientific were worth $13,082,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BSX. Van ECK Associates Corp lifted its position in shares of Boston Scientific by 18.1% during the third quarter. Van ECK Associates Corp now owns 57,894 shares of the medical equipment provider’s stock valued at $5,063,000 after purchasing an additional 8,882 shares in the last quarter. Impax Asset Management Group plc raised its position in Boston Scientific by 17.5% in the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after acquiring an additional 815,403 shares during the period. Avidian Wealth Enterprises LLC raised its position in Boston Scientific by 6.1% in the third quarter. Avidian Wealth Enterprises LLC now owns 4,713 shares of the medical equipment provider’s stock worth $395,000 after acquiring an additional 269 shares during the period. Radnor Capital Management LLC bought a new stake in Boston Scientific in the third quarter worth about $507,000. Finally, Concurrent Investment Advisors LLC raised its position in Boston Scientific by 5.8% in the third quarter. Concurrent Investment Advisors LLC now owns 9,724 shares of the medical equipment provider’s stock worth $815,000 after acquiring an additional 530 shares during the period. 89.07% of the stock is owned by institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the company’s 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 completion of the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the company’s stock in a transaction on Monday, February 24th. The shares were 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 of the company’s stock, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,322 shares of company stock valued at $14,321,068 in the last quarter. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on BSX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research report on Monday. Canaccord Genuity Group lifted their price objective 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. Stifel Nicolaus lifted their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley lifted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, TD Cowen lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $108.91.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $100.72 on Friday. The company’s fifty day moving average price is $100.29 and its 200-day moving average price is $90.96. The firm has a market capitalization of $148.64 billion, a price-to-earnings ratio of 80.58, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a one year low of $65.52 and a one year high of $107.17. 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 issued 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 net margin of 11.07% and a return on equity of 17.80%. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.