TIAA Trust National Association Lowers Holdings in Boston Scientific Co. (NYSE:BSX)

TIAA Trust National Association reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,089 shares of the medical equipment provider’s stock after selling 4,263 shares during the quarter. TIAA Trust National Association’s holdings in Boston Scientific were worth $22,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. FineMark National Bank & Trust bought a new stake in shares of Boston Scientific in the fourth quarter worth about $206,000. Ashton Thomas Securities LLC increased its stake in Boston Scientific by 3.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 10,316 shares of the medical equipment provider’s stock worth $921,000 after acquiring an additional 348 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Boston Scientific by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 2,289,791 shares of the medical equipment provider’s stock valued at $204,524,000 after acquiring an additional 46,255 shares during the last quarter. EFG Asset Management North America Corp. grew its holdings in shares of Boston Scientific by 9.2% in the fourth quarter. EFG Asset Management North America Corp. now owns 29,930 shares of the medical equipment provider’s stock valued at $2,674,000 after purchasing an additional 2,527 shares in the last quarter. Finally, Modern Wealth Management LLC bought a new stake in Boston Scientific in the fourth quarter worth $269,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the sale, the executive vice president now directly owns 25,443 shares in the company, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock valued at $14,319,269 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Trading Up 0.4 %

NYSE BSX opened at $103.09 on Wednesday. The company’s 50-day simple moving average is $101.99 and its two-hundred day simple moving average is $92.80. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company has a market capitalization of $152.48 billion, a price-to-earnings ratio of 82.47, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data 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%. Equities analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on BSX. Truist Financial lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Stifel Nicolaus boosted their price objective on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Royal Bank of Canada raised their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley boosted their target price on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $108.91.

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.