Factory Mutual Insurance Co. Reduces Holdings in Boston Scientific Co. (NYSE:BSX)

Factory Mutual Insurance Co. lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 54.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 71,100 shares of the medical equipment provider’s stock after selling 85,300 shares during the period. Factory Mutual Insurance Co.’s holdings in Boston Scientific were worth $6,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BSX. Values First Advisors Inc. purchased a new position in shares of Boston Scientific during the third quarter worth about $28,000. Dunhill Financial LLC grew its holdings in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares during the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the last quarter. West Oak Capital LLC purchased a new position in shares of Boston Scientific during the fourth quarter worth about $29,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific during the third quarter worth about $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction that occurred on 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 approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,989 shares of company stock valued at $2,702,261. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup raised their price target on Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. BTIG Research raised their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Bank of America raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their price objective on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Stifel Nicolaus raised their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.35.

Boston Scientific Trading Down 0.6 %

Shares of Boston Scientific stock opened at $102.40 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 1 year low of $62.63 and a 1 year high of $104.25. The company has a market capitalization of $150.92 billion, a P/E ratio of 84.63, a P/E/G ratio of 2.69 and a beta of 0.80. The business has a 50 day moving average price of $93.22 and a 200 day moving average price of $86.04.

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.