Fernwood Investment Management LLC Has $1.22 Million Stake in Boston Scientific Co. (NYSE:BSX)

Fernwood Investment Management LLC trimmed its position in shares of Boston Scientific Co. (NYSE:BSX) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,174 shares of the medical equipment provider’s stock after selling 450 shares during the quarter. Fernwood Investment Management LLC’s holdings in Boston Scientific were worth $1,224,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in shares of Boston Scientific by 6.8% during the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after purchasing an additional 8,045,263 shares during the period. Vanguard Group Inc. raised its position in Boston Scientific by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock valued at $6,534,969,000 after buying an additional 1,525,432 shares during the last quarter. Wellington Management Group LLP raised its position in Boston Scientific by 5.9% in the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after buying an additional 2,336,348 shares during the last quarter. Morgan Stanley raised its position in Boston Scientific by 2.3% in the 3rd quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock valued at $1,119,378,000 after buying an additional 481,891 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Boston Scientific by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 17,207,345 shares of the medical equipment provider’s stock valued at $908,548,000 after buying an additional 51,293 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Argus increased their price target on Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a research note on Thursday. Citigroup increased their price target on Boston Scientific from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen increased their price target on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.09.

Boston Scientific Trading Down 0.9 %

Shares of NYSE:BSX traded down $0.69 during midday trading on Monday, hitting $72.48. 9,463,878 shares of the stock traded hands, compared to its average volume of 6,623,186. The stock has a market capitalization of $106.34 billion, a PE ratio of 61.49, a P/E/G ratio of 2.52 and a beta of 0.78. The business’s 50 day moving average is $67.82 and its two-hundred day moving average is $60.63. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a one year low of $48.35 and a one year high of $74.39.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period in the prior year, the firm posted $0.45 earnings per share. As a group, research analysts forecast that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the sale, the director now owns 41,374 shares in the company, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. Insiders sold a total of 60,797 shares of company stock valued at $4,138,090 over the last three months. Corporate 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.