Boston Scientific Co. (NYSE:BSX) Position Trimmed by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. lessened its stake in shares of Boston Scientific Co. (NYSE:BSX) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,960 shares of the medical equipment provider’s stock after selling 230 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Boston Scientific were worth $890,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Street Corp boosted its position in shares of Boston Scientific by 2.3% in the 3rd 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 during the period. Wellington Management Group LLP boosted its holdings in shares of 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 worth $2,750,385,000 after buying an additional 718,515 shares during the period. Geode Capital Management LLC increased its position in shares of 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 worth $2,469,607,000 after acquiring an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Boston Scientific by 0.8% during 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 acquiring an additional 64,720 shares during the period. Finally, Impax Asset Management Group plc lifted its position in shares of Boston Scientific by 17.5% in the 3rd 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 acquiring an additional 815,403 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BSX shares. Raymond James increased their target price on Boston Scientific from $101.00 to $119.00 and gave the company a “strong-buy” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Friday, January 10th. Citigroup upped their target price on Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Finally, Truist Financial upped their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $100.39.

Boston Scientific Price Performance

NYSE BSX opened at $104.95 on Thursday. The stock has a market capitalization of $154.68 billion, a PE ratio of 86.73, a P/E/G ratio of 2.68 and a beta of 0.80. The stock has a 50-day simple moving average of $94.01 and a 200 day simple moving average of $86.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a twelve month low of $64.08 and a twelve month high of $107.17.

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 17.23% and a net margin of 11.26%. Research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current year.

Insiders Place Their Bets

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction 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 owns 39,398 shares in the company, valued at $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the transaction, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,302 shares of company stock worth $4,464,725 in the last ninety days. Insiders own 0.50% of the company’s stock.

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.