USA Financial Formulas Sells 2,118 Shares of Boston Scientific Co. (NYSE:BSX)

USA Financial Formulas lowered its holdings in Boston Scientific Co. (NYSE:BSX) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,536 shares of the medical equipment provider’s stock after selling 2,118 shares during the quarter. Boston Scientific comprises about 0.2% of USA Financial Formulas’ investment portfolio, making the stock its 24th largest position. USA Financial Formulas’ holdings in Boston Scientific were worth $1,298,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BSX. CRA Financial Services LLC raised its stake in shares of Boston Scientific by 4.3% during the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 117 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Boston Scientific by 9.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after acquiring an additional 119 shares during the period. Adero Partners LLC raised its position in shares of Boston Scientific by 3.6% during the 3rd quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after acquiring an additional 127 shares during the last quarter. Ashton Thomas Securities LLC lifted its stake in shares of Boston Scientific by 1.3% in the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after purchasing an additional 129 shares during the period. Finally, Jacobsen Capital Management boosted its position in shares of Boston Scientific by 4.9% in the 3rd quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock worth $236,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were 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 represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares in the company, valued at approximately $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. Insiders have sold 29,989 shares of company stock worth $2,702,261 over the last ninety days. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BSX shares. TD Cowen raised 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. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Bank of America boosted their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Morgan Stanley increased their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.26.

Boston Scientific Stock Up 1.3 %

BSX opened at $96.87 on Thursday. Boston Scientific Co. has a fifty-two week low of $59.61 and a fifty-two week high of $97.36. The company has a market capitalization of $142.77 billion, a P/E ratio of 80.06, a P/E/G ratio of 2.67 and a beta of 0.80. The stock has a fifty day moving average of $90.36 and a 200-day moving average of $84.15. 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 (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the prior year, the company posted $0.50 EPS. The company’s revenue was up 19.3% compared to the same quarter last year. On average, equities analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Boston Scientific Company 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.