Principal Financial Group Inc. Reduces Stake in Boston Scientific Co. (NYSE:BSX)

Principal Financial Group Inc. reduced its stake in Boston Scientific Co. (NYSE:BSX) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,993,444 shares of the medical equipment provider’s stock after selling 16,997 shares during the quarter. Principal Financial Group Inc. owned approximately 0.14% of Boston Scientific worth $178,054,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. TFC Financial Management Inc. grew its holdings in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Boston Scientific in the 3rd quarter valued at $28,000. Dunhill Financial LLC grew its holdings in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 152 shares in the last quarter. Global Wealth Strategies & Associates grew its holdings in Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 250 shares in the last quarter. Finally, West Oak Capital LLC purchased a new position in shares of Boston Scientific during the 4th quarter worth $29,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSX has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup increased their price target on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Stifel Nicolaus increased their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Thursday, February 6th. Finally, Morgan Stanley raised their target price on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific has an average rating of “Buy” and an average target price of $107.39.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,326 shares of company stock valued at $8,673,948. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

BSX stock opened at $106.20 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 1 year low of $65.33 and a 1 year high of $107.17. The firm has a market capitalization of $156.51 billion, a P/E ratio of 84.96, a P/E/G ratio of 2.79 and a beta of 0.80. The business’s 50-day moving average is $96.44 and its two-hundred day moving average is $88.39.

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, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. Analysts anticipate that Boston Scientific Co. will post 2.83 earnings per share for the current fiscal year.

About Boston Scientific

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.