Bp Plc Cuts Stake in Boston Scientific Co. (BSX)

Bp Plc lessened its stake in shares of Boston Scientific Co. (NYSE:BSX) by 17.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 142,000 shares of the medical equipment provider’s stock after selling 30,000 shares during the quarter. Bp Plc’s holdings in Boston Scientific were worth $5,015,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. We Are One Seven LLC acquired a new stake in Boston Scientific in the 4th quarter worth about $27,000. Ipswich Investment Management Co. Inc. acquired a new stake in Boston Scientific in the 4th quarter worth about $28,000. CWM LLC raised its stake in Boston Scientific by 54.3% in the 4th quarter. CWM LLC now owns 1,020 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 359 shares in the last quarter. West Oak Capital LLC raised its stake in Boston Scientific by 40.0% in the 4th quarter. West Oak Capital LLC now owns 1,050 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Finally, Exane Derivatives raised its stake in Boston Scientific by 116,300.0% in the 4th quarter. Exane Derivatives now owns 1,164 shares of the medical equipment provider’s stock worth $41,000 after purchasing an additional 1,163 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Several research firms have commented on BSX. Argus raised their target price on shares of Boston Scientific from $41.00 to $43.00 and gave the company a “buy” rating in a report on Friday, October 26th. Canaccord Genuity raised their target price on shares of Boston Scientific from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, October 25th. UBS Group began coverage on shares of Boston Scientific in a report on Tuesday, November 27th. They issued a “buy” rating and a $45.00 target price on the stock. Credit Suisse Group began coverage on shares of Boston Scientific in a report on Monday, December 17th. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, BTIG Research reissued a “buy” rating on shares of Boston Scientific in a report on Wednesday, November 21st. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $40.54.

Shares of Boston Scientific stock opened at $39.60 on Thursday. The company has a market cap of $54.63 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.30 and a beta of 0.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 0.78. Boston Scientific Co. has a 1 year low of $25.93 and a 1 year high of $40.33.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.57 billion. Boston Scientific had a net margin of 17.01% and a return on equity of 26.80%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS. Equities research analysts forecast that Boston Scientific Co. will post 1.56 EPS for the current year.

In related news, SVP Desiree Ralls-Morrison sold 4,047 shares of Boston Scientific stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $36.00, for a total transaction of $145,692.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David A. Pierce sold 5,000 shares of Boston Scientific stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $38.11, for a total transaction of $190,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 135,960 shares of company stock worth $5,119,813 over the last ninety days. 0.73% of the stock is currently owned by insiders.

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Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

Further Reading: Capital gains and your 401(k) or IRA

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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