Empirical Financial Services LLC d.b.a. Empirical Wealth Management Trims Stake in Boston Scientific Co. (NYSE:BSX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its position in shares of Boston Scientific Co. (NYSE:BSX) by 3.3% during the fourth quarter, Holdings Channel reports. The fund owned 11,711 shares of the medical equipment provider’s stock after selling 403 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Boston Scientific were worth $1,046,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. AustralianSuper Pty Ltd increased its stake in shares of Boston Scientific by 4,292.3% in the 3rd 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 in the last quarter. State Street Corp increased its stake in shares of Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares in the last quarter. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 1,091,561 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Boston Scientific by 68.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,371,407 shares of the medical equipment provider’s stock worth $198,724,000 after purchasing an additional 965,080 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Boston Scientific by 32.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,897,117 shares of the medical equipment provider’s stock worth $326,578,000 after purchasing an additional 951,580 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on BSX. Canaccord Genuity Group upped their price objective on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Morgan Stanley increased their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Sanford C. Bernstein increased their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Mizuho increased their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.26.

Insiders Place Their Bets

In other news, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $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 sold a total of 29,989 shares of company stock valued at $2,702,261 over the last 90 days. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 0.1 %

Shares of NYSE BSX opened at $102.41 on Wednesday. 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 company has a market cap of $150.93 billion, a P/E ratio of 84.63, a PEG ratio of 2.63 and a beta of 0.80. Boston Scientific Co. has a 1 year low of $60.78 and a 1 year high of $102.93. The firm has a 50-day simple moving average of $92.50 and a two-hundred day simple moving average of $85.63.

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.