Boston Scientific Co. (NYSE:BSX) Position Reduced by CHB Investment Group LLC

CHB Investment Group LLC lessened its stake in Boston Scientific Co. (NYSE:BSX) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,451 shares of the medical equipment provider’s stock after selling 153 shares during the quarter. Boston Scientific makes up approximately 1.7% of CHB Investment Group LLC’s holdings, making the stock its 11th biggest holding. CHB Investment Group LLC’s holdings in Boston Scientific were worth $3,077,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BSX. Values First Advisors Inc. bought a new position in Boston Scientific during the 3rd quarter worth approximately $28,000. Dunhill Financial LLC boosted its holdings in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares during the period. Global Wealth Strategies & Associates raised its holdings in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Boston Scientific in the 3rd quarter worth about $30,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Boston Scientific in the 3rd quarter valued at about $30,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX opened at $94.78 on Tuesday. Boston Scientific Co. has a one year low of $59.61 and a one year high of $97.13. The company has a 50-day moving average of $90.16 and a two-hundred day moving average of $84.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a market cap of $139.69 billion, a price-to-earnings ratio of 78.33, a PEG ratio of 2.67 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 (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 EPS. On average, equities research analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BSX shares. Evercore ISI increased their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Wells Fargo & Company increased their price objective on shares of Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Citigroup raised their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $97.26.

Insiders Place Their Bets

In other news, 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 transaction of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. The trade was a 11.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,989 shares of company stock worth $2,702,261. 0.50% of the stock is currently owned by company insiders.

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.