Mediolanum International Funds Ltd Sells 189,000 Shares of Boston Scientific Corporation $BSX

Mediolanum International Funds Ltd lessened its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 35.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 336,994 shares of the medical equipment provider’s stock after selling 189,000 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Boston Scientific were worth $32,702,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSX. Lebenthal Global Advisors LLC increased its holdings in shares of Boston Scientific by 3.8% in the third quarter. Lebenthal Global Advisors LLC now owns 19,435 shares of the medical equipment provider’s stock worth $1,897,000 after acquiring an additional 716 shares in the last quarter. Meridian Wealth Management LLC raised its holdings in shares of Boston Scientific by 157.3% during the third quarter. Meridian Wealth Management LLC now owns 5,548 shares of the medical equipment provider’s stock worth $542,000 after acquiring an additional 3,392 shares during the period. Oakworth Capital Inc. lifted its position in Boston Scientific by 3.4% in the 3rd quarter. Oakworth Capital Inc. now owns 4,072 shares of the medical equipment provider’s stock valued at $398,000 after acquiring an additional 132 shares in the last quarter. Carrera Capital Advisors raised its stake in shares of Boston Scientific by 5.7% in the 3rd quarter. Carrera Capital Advisors now owns 2,493 shares of the medical equipment provider’s stock valued at $243,000 after purchasing an additional 134 shares during the period. Finally, Mutual Advisors LLC lifted its holdings in shares of Boston Scientific by 66.0% in the third quarter. Mutual Advisors LLC now owns 7,263 shares of the medical equipment provider’s stock valued at $744,000 after purchasing an additional 2,887 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $101.55, for a total value of $1,758,135.15. Following the completion of the sale, the executive vice president owned 23,600 shares of the company’s stock, valued at $2,396,580. The trade was a 42.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ellen M. Zane sold 12,891 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total value of $1,266,927.48. Following the completion of the sale, the director owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. This trade represents a 34.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 80,204 shares of company stock worth $7,998,563 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BSX has been the topic of a number of recent research reports. Truist Financial lowered their price objective on shares of Boston Scientific from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. Citigroup reiterated a “buy” rating on shares of Boston Scientific in a research note on Wednesday, January 14th. Needham & Company LLC restated a “buy” rating on shares of Boston Scientific in a report on Thursday, January 15th. Oppenheimer cut their price target on shares of Boston Scientific from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 16th. Finally, Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.89.

Boston Scientific Stock Performance

NYSE:BSX opened at $93.58 on Friday. The stock has a 50 day simple moving average of $95.21 and a 200 day simple moving average of $99.49. The stock has a market cap of $138.72 billion, a P/E ratio of 50.04, a PEG ratio of 1.64 and a beta of 0.67. Boston Scientific Corporation has a 1-year low of $85.98 and a 1-year high of $109.50. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.