Rathbones Group PLC Decreases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Rathbones Group PLC cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,395,578 shares of the medical equipment provider’s stock after selling 9,880 shares during the period. Boston Scientific comprises about 1.0% of Rathbones Group PLC’s holdings, making the stock its 24th biggest holding. Rathbones Group PLC owned 0.16% of Boston Scientific worth $213,973,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mechanics Bank Trust Department purchased a new position in Boston Scientific in the 4th quarter valued at $415,000. Highland Capital Management LLC acquired a new position in Boston Scientific during the fourth quarter worth about $4,887,000. Covenant Asset Management LLC acquired a new position in Boston Scientific during the fourth quarter worth about $3,405,000. Brookstone Capital Management grew its stake in Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after acquiring an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. lifted its stake in Boston Scientific by 31.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after purchasing an additional 4,702 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now directly owns 25,443 shares of the company’s stock, valued at $2,704,845.33. The trade was a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,183 shares of company stock valued at $13,948,476. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BSX shares. Barclays increased their price target on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Truist Financial lifted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company upped their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. UBS Group lifted their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Citigroup increased their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $89.78 on Monday. 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 company has a market cap of $132.78 billion, a PE ratio of 71.82, a P/E/G ratio of 2.79 and a beta of 0.77. The stock has a fifty day moving average price of $101.90 and a 200 day moving average price of $93.71. Boston Scientific Co. has a 1-year low of $66.80 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Sell-side analysts forecast that Boston Scientific Co. will post 2.85 EPS 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.