Welch & Forbes LLC Has $11.87 Million Stake in Boston Scientific Co. (NYSE:BSX)

Welch & Forbes LLC trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 20.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 205,284 shares of the medical equipment provider’s stock after selling 51,453 shares during the quarter. Welch & Forbes LLC’s holdings in Boston Scientific were worth $11,867,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased 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 acquiring an additional 8,045,263 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Boston Scientific by 1.2% during the third quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock worth $6,534,969,000 after acquiring an additional 1,525,432 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Boston Scientific by 5.9% during the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after acquiring an additional 2,336,348 shares in the last quarter. Morgan Stanley increased its position in shares of Boston Scientific by 2.3% during the third quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock worth $1,119,378,000 after acquiring an additional 481,891 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Boston Scientific by 1.4% during the third quarter. Invesco Ltd. now owns 14,862,018 shares of the medical equipment provider’s stock worth $784,715,000 after purchasing an additional 211,732 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 9,818 shares of the firm’s 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 transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Edward J. Ludwig sold 9,818 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the sale, the director now directly owns 41,374 shares in the company, valued at approximately $3,032,300.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the sale, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The disclosure for this sale can be found here. Insiders have sold a total of 78,384 shares of company stock valued at $5,395,560 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Performance

NYSE:BSX traded up $0.88 during mid-day trading on Tuesday, reaching $73.43. 4,151,495 shares of the company’s stock were exchanged, compared to its average volume of 6,613,376. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific Co. has a one year low of $48.35 and a one year high of $74.39. The firm has a market capitalization of $107.73 billion, a PE ratio of 61.71, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. The business’s fifty day simple moving average is $68.68 and its two-hundred day simple moving average is $61.74.

Analyst Ratings Changes

Several research analysts recently commented on BSX shares. Barclays increased their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Mizuho increased their target price on shares of Boston Scientific from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Citigroup increased their price target on shares of Boston Scientific from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. increased their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $75.09.

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.