Boston Scientific Co. (NYSE:BSX) is Costello Asset Management INC’s 4th Largest Position

Costello Asset Management INC reduced its stake in Boston Scientific Co. (NYSE:BSX) by 6.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 66,903 shares of the medical equipment provider’s stock after selling 4,380 shares during the quarter. Boston Scientific accounts for approximately 4.0% of Costello Asset Management INC’s holdings, making the stock its 4th largest position. Costello Asset Management INC’s holdings in Boston Scientific were worth $5,976,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Values First Advisors Inc. purchased a new position in shares of Boston Scientific during the 3rd quarter valued at $28,000. Dunhill Financial LLC lifted its position in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares during the period. West Oak Capital LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $29,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Boston Scientific during the third quarter worth about $30,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 0.6 %

Shares of NYSE BSX opened at $102.40 on Friday. Boston Scientific Co. has a fifty-two week low of $62.63 and a fifty-two week high of $104.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company has a market cap of $150.92 billion, a price-to-earnings ratio of 84.63, a PEG ratio of 2.69 and a beta of 0.80. The business’s 50 day moving average price is $93.47 and its 200-day moving average price is $86.21.

Insiders Place Their Bets

In related news, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock worth $2,702,261 over the last quarter. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on BSX. TD Cowen upped their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Royal Bank of Canada raised their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group boosted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Bank of America lifted their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Truist Financial increased their price target on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Two investment 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.35.

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.