GAM Holding AG Sells 11,479 Shares of Boston Scientific Co. (NYSE:BSX)

GAM Holding AG trimmed its stake in shares of Boston Scientific Co. (NYSE:BSX) by 32.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,319 shares of the medical equipment provider’s stock after selling 11,479 shares during the quarter. GAM Holding AG’s holdings in Boston Scientific were worth $1,406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ballentine Partners LLC raised its stake in shares of Boston Scientific by 4.4% during the 4th quarter. Ballentine Partners LLC now owns 25,068 shares of the medical equipment provider’s stock valued at $1,449,000 after purchasing an additional 1,059 shares during the period. Trust Point Inc. bought a new position in Boston Scientific in the 4th quarter worth about $1,065,000. Venturi Wealth Management LLC increased its stake in Boston Scientific by 58.0% in the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 215 shares during the last quarter. Cigna Investments Inc. New increased its stake in Boston Scientific by 1.4% in the 4th quarter. Cigna Investments Inc. New now owns 15,569 shares of the medical equipment provider’s stock worth $900,000 after acquiring an additional 219 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in Boston Scientific in the 4th quarter worth about $234,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on BSX. Argus upped their target price on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James upped their target price on Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 1st. Oppenheimer upped their target price on Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, February 1st. Truist Financial upped their target price on Boston Scientific from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. Finally, Royal Bank of Canada upped their target price on Boston Scientific from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.59.

Boston Scientific Trading Up 1.1 %

BSX stock traded up $0.71 during trading on Wednesday, hitting $68.16. 6,590,913 shares of the company traded hands, compared to its average volume of 6,481,092. The firm has a market capitalization of $100.19 billion, a PE ratio of 63.93, a P/E/G ratio of 2.39 and a beta of 0.78. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $68.92. The company has a 50-day moving average of $65.98 and a 200-day moving average of $58.57. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same period in the prior year, the business posted $0.45 EPS. Analysts predict that Boston Scientific Co. will post 2.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the transaction, the chief financial officer now owns 271,542 shares in the company, valued at approximately $17,883,756.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,811 shares of company stock worth $5,893,070. 0.50% of the stock is currently owned by company insiders.

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.