Perigon Wealth Management LLC Sells 660 Shares of Boston Scientific Co. (NYSE:BSX)

Perigon Wealth Management LLC cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 5.7% in the fourth quarter, HoldingsChannel reports. The fund owned 10,870 shares of the medical equipment provider’s stock after selling 660 shares during the period. Perigon Wealth Management LLC’s holdings in Boston Scientific were worth $628,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of Boston Scientific by 5.6% during the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after acquiring an additional 27,620 shares during the period. Glenmede Trust Co. NA boosted its stake in Boston Scientific by 12.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after purchasing an additional 1,123 shares during the period. Principal Financial Group Inc. boosted its stake in Boston Scientific by 2.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after purchasing an additional 38,249 shares during the period. International Assets Investment Management LLC boosted its stake in Boston Scientific by 318.4% in the 4th quarter. International Assets Investment Management LLC now owns 89,031 shares of the medical equipment provider’s stock worth $51,470,000 after purchasing an additional 67,753 shares during the period. Finally, Czech National Bank boosted its stake in Boston Scientific by 50.4% in the 3rd quarter. Czech National Bank now owns 255,916 shares of the medical equipment provider’s stock worth $13,512,000 after purchasing an additional 85,706 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on BSX shares. Truist Financial upped their price target on Boston Scientific from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. Citigroup upped their price target on Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price target on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Mizuho raised Boston Scientific from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $80.00 in a report on Thursday, February 1st. Finally, Argus upped their price objective on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.14.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $68.07 on Monday. The stock’s fifty day moving average is $66.99 and its two-hundred day moving average is $59.42. The company has a market capitalization of $99.87 billion, a PE ratio of 63.62, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $69.21.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company posted $0.45 EPS. As a group, analysts expect that Boston Scientific Co. will post 2.25 earnings per share for the current year.

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.