Rafferty Asset Management LLC Cuts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Rafferty Asset Management LLC reduced its stake in Boston Scientific Co. (NYSE:BSXFree Report) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,056 shares of the medical equipment provider’s stock after selling 3,724 shares during the quarter. Rafferty Asset Management LLC’s holdings in Boston Scientific were worth $8,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Bruce G. Allen Investments LLC purchased a new stake in Boston Scientific during the 4th quarter valued at about $28,000. Sachetta LLC bought a new stake in Boston Scientific in the fourth quarter valued at approximately $32,000. Frazier Financial Advisors LLC purchased a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $32,000. Jones Financial Companies Lllp grew its holdings in shares of Boston Scientific by 53.0% in the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 193 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Boston Scientific by 58.0% in the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 215 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BSX has been the subject of several analyst reports. Argus increased their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. UBS Group upped their price target on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Citigroup increased their price objective on Boston Scientific from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, Wells Fargo & Company upped their target price on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.70.

View Our Latest Analysis on BSX

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now directly 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 can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the sale, the executive vice president now owns 45,628 shares in the company, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,627 shares of company stock valued at $5,937,353. 0.50% of the stock is owned by insiders.

Boston Scientific Price Performance

Shares of BSX opened at $75.89 on Thursday. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $76.25. The firm has a market capitalization of $111.34 billion, a PE ratio of 63.77, a price-to-earnings-growth ratio of 2.60 and a beta of 0.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The company’s fifty day moving average price is $71.85 and its 200-day moving average price is $65.02.

Boston Scientific (NYSE:BSXGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. On average, equities research analysts predict that Boston Scientific Co. will post 2.32 EPS for the current year.

Boston Scientific Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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