Strengthening Families & Communities LLC Sells 20,708 Shares of Boston Scientific Co. (NYSE:BSX)

Strengthening Families & Communities LLC lowered its holdings in Boston Scientific Co. (NYSE:BSX) by 96.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 830 shares of the medical equipment provider’s stock after selling 20,708 shares during the period. Strengthening Families & Communities LLC’s holdings in Boston Scientific were worth $74,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its position in Boston Scientific by 2.3% in 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 in the last quarter. Wellington Management Group LLP grew its position in Boston Scientific by 2.2% in the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after purchasing an additional 718,515 shares in the last quarter. Geode Capital Management LLC grew its position in Boston Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after purchasing an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Boston Scientific by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock valued at $671,940,000 after purchasing an additional 64,720 shares in the last quarter. Finally, Impax Asset Management Group plc grew its position in Boston Scientific by 17.5% in the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after purchasing an additional 815,403 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of a number of analyst reports. Mizuho lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley lifted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Bank of America lifted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Friday, January 10th. Finally, Sanford C. Bernstein lifted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $107.39.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $106.15 on Tuesday. The firm has a 50 day moving average of $94.88 and a 200-day moving average of $87.28. The stock has a market capitalization of $156.44 billion, a PE ratio of 84.92, a PEG ratio of 2.79 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12 month low of $64.54 and a 12 month high of $107.17.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. On average, equities research analysts predict that Boston Scientific Co. will post 2.83 EPS for the current fiscal year.

Insider Activity

In related news, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,830 shares of company stock worth $5,149,969. 0.50% of the stock is currently owned by corporate 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.