Hartford Investment Management Co. Has $8.15 Million Stake in Boston Scientific Co. (NYSE:BSX)

Hartford Investment Management Co. reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 91,204 shares of the medical equipment provider’s stock after selling 1,470 shares during the period. Hartford Investment Management Co.’s holdings in Boston Scientific were worth $8,146,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Global Wealth Strategies & Associates boosted its holdings in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC purchased a new stake in Boston Scientific in the 4th quarter valued at about $29,000. Dunhill Financial LLC lifted its position in shares of Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Boston Scientific in the 3rd quarter worth approximately $28,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Boston Scientific in the third quarter valued at approximately $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BSX. Raymond James lifted their price target on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Mizuho boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada increased their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. UBS Group lifted their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Bank of America increased their target price 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. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $107.39.

Boston Scientific Stock Down 0.1 %

BSX stock opened at $106.03 on Wednesday. The stock has a 50-day simple moving average of $95.19 and a two-hundred day simple moving average of $87.50. Boston Scientific Co. has a twelve month low of $64.54 and a twelve month high of $107.17. The firm has a market capitalization of $156.26 billion, a PE ratio of 84.82, a PEG ratio of 2.79 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data 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 analysts predict that Boston Scientific Co. will post 2.83 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 6,528 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the completion of the transaction, the executive vice president now owns 26,449 shares of the company’s stock, valued at approximately $2,776,351.53. The trade was a 19.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s 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 completion of the sale, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,830 shares of company stock valued at $5,149,969. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Profile

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.