Boston Scientific Co. (NYSE:BSX) Shares Sold by First Manhattan CO. LLC.

First Manhattan CO. LLC. lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 189,823 shares of the medical equipment provider’s stock after selling 8,185 shares during the period. First Manhattan CO. LLC.’s holdings in Boston Scientific were worth $16,955,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BSX. Vanguard Group Inc. boosted its holdings in Boston Scientific by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after acquiring an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after purchasing an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC increased its position in Boston Scientific by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock worth $2,729,371,000 after purchasing an additional 1,041,329 shares in the last quarter. Capital World Investors raised its holdings in Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after buying an additional 6,216,199 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Boston Scientific by 2.5% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider’s stock valued at $1,992,994,000 after buying an additional 554,388 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 12,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the sale, the director now directly owns 24,398 shares in the company, valued at approximately $2,573,501.04. The trade was a 32.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the transaction, the executive vice president now owns 22,235 shares in the company, valued at $2,269,304.10. This represents a 43.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 300,497 shares of company stock worth $31,056,815. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BSX. Morgan Stanley raised their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Evercore ISI upped their target price on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Stifel Nicolaus raised their target price on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Robert W. Baird upped their price target on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Citigroup lifted their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Twenty-three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $114.52.

Boston Scientific Price Performance

BSX opened at $102.87 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $98.68 and its 200 day moving average price is $95.93. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The firm has a market cap of $152.19 billion, a price-to-earnings ratio of 82.30, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter last year, the business posted $0.56 EPS. The business’s revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.