Summit Trail Advisors LLC Sells 1,265 Shares of Boston Scientific Co. (NYSE:BSX)

Summit Trail Advisors LLC reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,480 shares of the medical equipment provider’s stock after selling 1,265 shares during the quarter. Summit Trail Advisors LLC’s holdings in Boston Scientific were worth $490,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Bruce G. Allen Investments LLC acquired a new position in Boston Scientific in the fourth quarter valued at approximately $28,000. Motco lifted its holdings in Boston Scientific by 136.3% in the third quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 372 shares during the period. Venturi Wealth Management LLC lifted its holdings in Boston Scientific by 58.0% in the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 215 shares during the period. Asset Dedication LLC lifted its holdings in Boston Scientific by 42.6% in the third quarter. Asset Dedication LLC now owns 786 shares of the medical equipment provider’s stock valued at $41,000 after buying an additional 235 shares during the period. Finally, CNB Bank acquired a new position in Boston Scientific in the third quarter valued at approximately $42,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

Shares of BSX stock traded up $0.76 during midday trading on Tuesday, hitting $73.31. 1,243,201 shares of the company were exchanged, compared to its average volume of 6,578,772. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $74.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The firm’s 50 day moving average price is $68.54 and its two-hundred day moving average price is $61.57. The firm has a market capitalization of $107.55 billion, a P/E ratio of 60.97, a PEG ratio of 2.51 and a beta of 0.77.

Insider Activity

In related news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific 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 sale, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now directly owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,384 shares of company stock worth $5,395,560. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BSX has been the topic of several analyst reports. UBS Group increased their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, April 25th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 16th. Wells Fargo & Company increased their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” 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. Finally, Argus increased their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.09.

Boston Scientific Company 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.