Heritage Investors Management Corp Sells 1,707 Shares of Boston Scientific Co. (NYSE:BSX)

Heritage Investors Management Corp decreased its position in Boston Scientific Co. (NYSE:BSX) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,157 shares of the medical equipment provider’s stock after selling 1,707 shares during the quarter. Heritage Investors Management Corp’s holdings in Boston Scientific were worth $17,431,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in 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 buying an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department bought a new stake in shares of Boston Scientific in the fourth quarter valued at about $415,000. Highland Capital Management LLC acquired a new position in shares of Boston Scientific in the fourth quarter valued at about $4,887,000. Covenant Asset Management LLC bought a new position in Boston Scientific during the fourth quarter worth about $3,405,000. Finally, Brookstone Capital Management raised its stake in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after purchasing an additional 20,307 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.9 %

Shares of BSX opened at $101.61 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17. The stock has a market capitalization of $149.96 billion, a price-to-earnings ratio of 81.29, a PEG ratio of 2.79 and a beta of 0.80. The stock has a fifty day moving average of $98.73 and a 200-day moving average of $89.95.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares in the company, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,305 shares of company stock worth $14,954,985 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of analyst reports. Canaccord Genuity Group increased their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. TD Cowen increased their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Wells Fargo & Company lifted their price objective on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Piper Sandler increased their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Barclays raised their price target on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.39.

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.