Profund Advisors LLC lowered its stake in Boston Scientific Co. (NYSE:BSX) by 23.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 49,629 shares of the medical equipment provider’s stock after selling 15,180 shares during the quarter. Profund Advisors LLC’s holdings in Boston Scientific were worth $1,230,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Truewealth LLC bought a new stake in Boston Scientific in the fourth quarter valued at approximately $116,000. Icon Wealth Partners LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at approximately $117,000. Cerebellum GP LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at approximately $126,000. Delpha Capital Management LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at approximately $135,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Boston Scientific during the third quarter valued at approximately $138,000. Hedge funds and other institutional investors own 91.85% of the company’s stock.
Shares of Boston Scientific Co. (NYSE BSX) opened at $28.43 on Wednesday. The firm has a market capitalization of $39,239.96, a price-to-earnings ratio of 22.65, a P/E/G ratio of 2.06 and a beta of 0.82. Boston Scientific Co. has a 12 month low of $24.02 and a 12 month high of $29.93. The company has a quick ratio of 0.49, a current ratio of 0.68 and a debt-to-equity ratio of 0.54.
In related news, SVP David A. Pierce sold 5,152 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $27.00, for a total value of $139,104.00. Following the sale, the senior vice president now directly owns 38,116 shares of the company’s stock, valued at $1,029,132. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael P. Phalen sold 15,835 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $25.25, for a total value of $399,833.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,276 shares of company stock worth $4,592,464. 0.74% of the stock is owned by insiders.
Several equities analysts have recently issued reports on the company. BMO Capital Markets reissued a “buy” rating and set a $32.00 target price on shares of Boston Scientific in a research note on Tuesday, December 12th. TheStreet cut Boston Scientific from a “b” rating to a “c” rating in a research note on Monday, March 5th. Evercore ISI assumed coverage on Boston Scientific in a research note on Wednesday, January 3rd. They set an “in-line” rating and a $27.00 target price on the stock. Jefferies Group reissued a “neutral” rating on shares of Boston Scientific in a research note on Friday, February 2nd. Finally, Needham & Company LLC raised Boston Scientific from a “buy” rating to a “strong-buy” rating and boosted their target price for the company from $25.04 to $32.00 in a research note on Friday, December 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Boston Scientific currently has a consensus rating of “Buy” and an average price target of $31.06.
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About Boston Scientific
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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