Pitcairn Co. Boosts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Pitcairn Co. lifted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,330 shares of the medical equipment provider’s stock after buying an additional 682 shares during the quarter. Pitcairn Co.’s holdings in Boston Scientific were worth $1,905,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BSX. Arete Wealth Advisors LLC bought a new position in shares of Boston Scientific in the fourth quarter worth $308,000. World Investment Advisors grew its holdings in Boston Scientific by 13.1% during the 4th quarter. World Investment Advisors now owns 13,215 shares of the medical equipment provider’s stock valued at $1,180,000 after buying an additional 1,531 shares in the last quarter. Nicolet Advisory Services LLC bought a new stake in shares of Boston Scientific during the fourth quarter valued at about $223,000. Huntington National Bank lifted its holdings in shares of Boston Scientific by 5.2% in the fourth quarter. Huntington National Bank now owns 1,260,697 shares of the medical equipment provider’s stock worth $112,605,000 after buying an additional 62,141 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in shares of Boston Scientific by 1.7% in the fourth quarter. Meeder Advisory Services Inc. now owns 31,265 shares of the medical equipment provider’s stock valued at $2,793,000 after acquiring an additional 528 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Boston Scientific news, CFO Daniel J. Brennan sold 15,087 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the sale, the chief financial officer now owns 241,451 shares in the company, valued at approximately $25,369,256.57. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,183 shares of company stock valued at $13,948,476. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $98.51 on Friday. The stock has a market capitalization of $145.70 billion, a P/E ratio of 78.80, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The business’s 50 day simple moving average is $102.14 and its two-hundred day simple moving average is $93.51.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

BSX has been the topic of several recent analyst reports. UBS Group increased their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Royal Bank of Canada lifted their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Friday, January 10th. Wells Fargo & Company lifted their price target on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Barclays upped their price objective on shares of 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $108.91.

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.