Cypress Wealth Services LLC Trims Stake in Boston Scientific Co. (NYSE:BSX)

Cypress Wealth Services LLC lessened its position in Boston Scientific Co. (NYSE:BSX) by 4.9% in the fourth quarter, HoldingsChannel reports. The firm owned 2,490 shares of the medical equipment provider’s stock after selling 128 shares during the quarter. Cypress Wealth Services LLC’s holdings in Boston Scientific were worth $222,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Marshall Wace LLP increased its stake in shares of Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after acquiring an additional 3,608,158 shares in the last quarter. AustralianSuper Pty Ltd grew its holdings in Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after purchasing an additional 2,615,903 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Boston Scientific by 30.0% during the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after purchasing an additional 1,824,405 shares in the last quarter. State Street Corp lifted its holdings in shares of Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Boston Scientific by 98.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock worth $184,810,000 after buying an additional 1,091,561 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Trading Up 0.6 %

NYSE:BSX opened at $98.73 on Friday. Boston Scientific Co. has a one year low of $59.85 and a one year high of $99.14. The business has a fifty day moving average price of $90.79 and a 200-day moving average price of $84.33. The firm has a market capitalization of $145.52 billion, a price-to-earnings ratio of 81.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.80. 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 (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the business posted $0.50 earnings per share. The business’s quarterly revenue was up 19.3% on a year-over-year basis. Sell-side analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Buying and Selling at Boston Scientific

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BSX shares. Morgan Stanley lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Citigroup increased their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average 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.