Quantbot Technologies LP Decreases Stock Position in Boston Scientific Co. (NYSE:BSX)

Quantbot Technologies LP decreased its holdings in Boston Scientific Co. (NYSE:BSX) by 39.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,021 shares of the medical equipment provider’s stock after selling 52,202 shares during the period. Quantbot Technologies LP’s holdings in Boston Scientific were worth $7,147,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Boston Scientific by 4.4% in 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 during the last quarter. Mechanics Bank Trust Department bought a new stake in Boston Scientific in the fourth quarter worth $415,000. Highland Capital Management LLC purchased a new position in Boston Scientific during the fourth quarter worth $4,887,000. Covenant Asset Management LLC bought a new position in Boston Scientific during the fourth quarter valued at $3,405,000. Finally, Brookstone Capital Management raised its stake in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after acquiring an additional 20,307 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 1.1 %

Shares of Boston Scientific stock opened at $95.33 on Friday. Boston Scientific Co. has a 1 year low of $65.52 and a 1 year high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock has a market cap of $140.69 billion, a PE ratio of 76.26, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The firm has a fifty day moving average price of $100.92 and a 200 day moving average price of $91.55.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Equities research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

BSX has been the subject of several analyst reports. UBS Group raised their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. TD Cowen upped their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barclays raised their price target on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Raymond James upped their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Insiders Place Their Bets

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the sale, the executive vice president now owns 5,502 shares in the company, valued at $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the sale, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. This represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock valued at $14,319,269 in the last ninety days. 0.50% of the stock is currently owned by corporate 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.