Relyea Zuckerberg Hanson LLC Trims Stock Position in Boston Scientific Co. (NYSE:BSX)

Relyea Zuckerberg Hanson LLC trimmed its position in Boston Scientific Co. (NYSE:BSX) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,850 shares of the medical equipment provider’s stock after selling 563 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Boston Scientific were worth $1,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP grew its position in Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after purchasing an additional 718,515 shares during the last quarter. Geode Capital Management LLC increased its stake in Boston Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after purchasing an additional 480,729 shares in the last quarter. Legal & General Group Plc raised its holdings in Boston Scientific by 2.7% in the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock worth $1,072,195,000 after buying an additional 360,793 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Boston Scientific by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after buying an additional 64,720 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded up $0.31 during trading hours on Friday, reaching $98.48. The company’s stock had a trading volume of 1,162,122 shares, compared to its average volume of 4,939,929. 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 one year low of $59.85 and a one year high of $98.49. The firm has a 50 day moving average price of $90.57 and a 200-day moving average price of $84.23. The stock has a market cap of $145.14 billion, a P/E ratio of 81.36, a P/E/G ratio of 2.48 and a beta of 0.80.

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

Wall Street Analyst Weigh In

BSX has been the subject of several analyst reports. Mizuho raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus lifted their target price on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research report on Friday, January 10th. BTIG Research boosted their target price on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Truist Financial raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $97.26.

Insider Buying and Selling

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the transaction, the executive vice president now directly owns 29,308 shares in the company, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,989 shares of company stock valued at $2,702,261. Insiders own 0.50% of the company’s stock.

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.