Sterling Capital Management LLC Has $399,000 Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Sterling Capital Management LLC lowered its stake in Boston Scientific Co. (NYSE:BSX) by 33.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,472 shares of the medical equipment provider’s stock after selling 2,253 shares during the period. Sterling Capital Management LLC’s holdings in Boston Scientific were worth $399,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSX. Vanguard Group Inc. boosted its holdings in shares of Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after acquiring an additional 1,600,062 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after purchasing an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock worth $2,729,371,000 after purchasing an additional 1,041,329 shares during the last quarter. Norges Bank acquired a new position in shares of Boston Scientific in the fourth quarter valued at approximately $1,762,522,000. Finally, Franklin Resources Inc. raised its holdings in Boston Scientific by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider’s stock valued at $1,477,307,000 after buying an additional 832,386 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other news, CFO Daniel J. Brennan sold 15,087 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares of the company’s stock, valued at $25,369,256.57. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares in the company, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,183 shares of company stock worth $13,948,476. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BSX shares. Needham & Company LLC upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research report on Wednesday. Piper Sandler increased their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Raymond James lifted their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Barclays raised their price objective on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada increased their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $110.22.

Boston Scientific Trading Down 0.2 %

Shares of Boston Scientific stock opened at $95.08 on Friday. 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 Co. has a 52 week low of $66.80 and a 52 week high of $107.17. The stock has a 50 day moving average price of $99.46 and a two-hundred day moving average price of $94.41. The stock has a market capitalization of $140.63 billion, a PE ratio of 76.06, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal 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.