Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Stake in Boston Scientific Co. (NYSE:BSX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 8.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,233 shares of the medical equipment provider’s stock after selling 119 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Boston Scientific were worth $110,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BSX. Newbridge Financial Services Group Inc. boosted its stake in shares of Boston Scientific by 12.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 17,347 shares of the medical equipment provider’s stock valued at $1,549,000 after purchasing an additional 1,975 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in Boston Scientific by 21.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 33,153 shares of the medical equipment provider’s stock valued at $2,961,000 after buying an additional 5,767 shares during the period. Stephens Inc. AR grew its stake in shares of Boston Scientific by 1.4% during the fourth quarter. Stephens Inc. AR now owns 10,546 shares of the medical equipment provider’s stock valued at $942,000 after buying an additional 148 shares during the last quarter. Quotient Wealth Partners LLC grew its stake in shares of Boston Scientific by 6.0% during the fourth quarter. Quotient Wealth Partners LLC now owns 5,045 shares of the medical equipment provider’s stock valued at $451,000 after buying an additional 285 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of Boston Scientific in the fourth quarter worth about $214,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BSX. TD Cowen increased their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Bank of America increased their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Raymond James lifted their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Truist Financial increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Citigroup boosted their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Buy” and an average target price of $106.00.

Insider Activity

In other news, EVP John Bradley Sorenson sold 4,119 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,302 shares of company stock worth $4,464,725 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Up 0.3 %

Shares of Boston Scientific stock opened at $105.33 on Monday. Boston Scientific Co. has a 1 year low of $64.39 and a 1 year high of $107.17. 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 50-day moving average of $94.88 and a 200 day moving average of $87.21. The firm has a market cap of $155.24 billion, a price-to-earnings ratio of 84.26, a PEG ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.83 earnings per share for the current fiscal year.

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.