Gateway Investment Advisers LLC trimmed its position in Boston Scientific Corporation (NYSE:BSX) by 16.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 976,714 shares of the medical equipment provider’s stock after selling 196,468 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Boston Scientific were worth $24,213,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC bought a new stake in shares of Boston Scientific in the 3rd quarter valued at approximately $138,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Boston Scientific in the 3rd quarter valued at approximately $139,000. San Francisco Sentry Investment Group CA bought a new position in Boston Scientific during the 2nd quarter worth $191,000. Ironwood Investment Counsel LLC bought a new position in Boston Scientific during the 3rd quarter worth $204,000. Finally, Perkins Capital Management Inc. bought a new position in Boston Scientific during the 3rd quarter worth $204,000. Institutional investors and hedge funds own 90.51% of the company’s stock.
Boston Scientific Corporation (NYSE BSX) opened at $27.25 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.72. Boston Scientific Corporation has a 12-month low of $23.29 and a 12-month high of $29.93. The stock has a market capitalization of $37,048.83, a price-to-earnings ratio of 44.67, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96.
A number of research analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of Boston Scientific in a research note on Tuesday. Canaccord Genuity restated a “buy” rating on shares of Boston Scientific in a research note on Wednesday. Barclays restated a “buy” rating and set a $32.00 price objective on shares of Boston Scientific in a research note on Wednesday, January 10th. Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective on shares of Boston Scientific in a research note on Monday, September 25th. Finally, Evercore ISI assumed coverage on Boston Scientific in a research note on Wednesday, January 3rd. They set an “in-line” rating and a $27.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.00.
In other Boston Scientific news, EVP Michael P. Phalen sold 15,500 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $28.42, for a total transaction of $440,510.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David A. Pierce sold 8,763 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $27.74, for a total value of $243,085.62. Following the completion of the sale, the senior vice president now owns 24,201 shares of the company’s stock, valued at approximately $671,335.74. The disclosure for this sale can be found here. Insiders have sold a total of 96,585 shares of company stock valued at $2,578,197 in the last quarter. 0.74% of the stock is currently owned by insiders.
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Boston Scientific Profile
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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