Royal London Asset Management Ltd. Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

Royal London Asset Management Ltd. cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 632,461 shares of the medical equipment provider’s stock after selling 2,618 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Boston Scientific were worth $56,491,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Parnassus Investments LLC increased its holdings in Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after acquiring an additional 97 shares during the last quarter. PDS Planning Inc increased its holdings in Boston Scientific by 1.5% in the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after acquiring an additional 113 shares during the last quarter. Adero Partners LLC increased its holdings in Boston Scientific by 3.3% in the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after acquiring an additional 120 shares during the last quarter. Grove Bank & Trust increased its holdings in Boston Scientific by 4.4% in the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after acquiring an additional 122 shares during the last quarter. Finally, PFG Investments LLC boosted its stake in Boston Scientific by 1.6% in the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

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

Boston Scientific (NYSE:BSX) last announced 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 forecast that Boston Scientific Co. will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total value of $1,265,760.00. Following the transaction, the director now directly owns 24,398 shares in the company, valued at $2,573,501.04. This trade represents a 32.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock valued at $14,319,269 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup raised their target price on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Raymond James raised their target price 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. Barclays raised their target price on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Stifel Nicolaus raised their target price on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Two investment 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Company 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.