Banque Pictet & Cie SA Sells 51,728 Shares of Boston Scientific Co. (NYSE:BSX)

Banque Pictet & Cie SA lowered its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 12.9% during the fourth quarter, Holdings Channel reports. The firm owned 348,659 shares of the medical equipment provider’s stock after selling 51,728 shares during the period. Banque Pictet & Cie SA’s holdings in Boston Scientific were worth $31,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after purchasing an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department bought a new position in shares of Boston Scientific during the 4th quarter valued at $415,000. Highland Capital Management LLC bought a new position in Boston Scientific in the 4th quarter worth $4,887,000. Brookstone Capital Management raised its holdings in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after acquiring an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. raised its holdings in Boston Scientific by 31.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after acquiring an additional 4,702 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.4 %

BSX opened at $106.16 on Friday. The firm has a market cap of $156.47 billion, a price-to-earnings ratio of 84.93, a PEG ratio of 2.79 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The firm’s 50-day simple moving average is $95.80 and its 200-day simple moving average is $87.85. Boston Scientific Co. has a twelve month low of $65.00 and a twelve month high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Boston Scientific Co. will post 2.83 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the sale, the executive vice president now directly owns 29,308 shares in the company, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,326 shares of company stock valued at $8,673,948 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on BSX. Wells Fargo & Company lifted their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Raymond James lifted their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Truist Financial lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Thursday, February 6th. Finally, Bank of America lifted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $107.39.

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.