AdvisorNet Financial Inc Cuts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

AdvisorNet Financial Inc lessened its position in Boston Scientific Co. (NYSE:BSX) by 16.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,295 shares of the medical equipment provider’s stock after selling 827 shares during the quarter. AdvisorNet Financial Inc’s holdings in Boston Scientific were worth $384,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after acquiring an additional 173,034 shares in the last quarter. Brookstone Capital Management grew its position in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares in the last quarter. HWG Holdings LP acquired a new stake in shares of Boston Scientific in the second quarter valued at approximately $482,000. Principal Financial Group Inc. lifted its position in Boston Scientific by 5.9% during the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock worth $168,475,000 after buying an additional 111,724 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Boston Scientific by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after buying an additional 30,636 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

NYSE:BSX opened at $98.15 on Friday. Boston Scientific Co. has a 52 week low of $59.85 and a 52 week high of $98.31. The company has a fifty day simple moving average of $90.57 and a two-hundred day simple moving average of $84.23. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company has a market cap of $144.65 billion, a price-to-earnings ratio of 81.11, a price-to-earnings-growth ratio of 2.48 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 EPS. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the transaction, the executive vice president now owns 29,308 shares of the company’s stock, valued at $2,660,580.24. This represents a 19.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the sale, the director now directly owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock valued at $2,702,261 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BSX. Royal Bank of Canada raised their target price on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein lifted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Morgan Stanley raised their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.26.

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.