Rhumbline Advisers Sells 113,403 Shares of Boston Scientific Co. (NYSE:BSX)

Rhumbline Advisers cut its position in shares of Boston Scientific Co. (NYSE:BSX) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,741,438 shares of the medical equipment provider’s stock after selling 113,403 shares during the quarter. Rhumbline Advisers’ holdings in Boston Scientific were worth $244,865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TFC Financial Management Inc. grew its holdings in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares in the last quarter. Values First Advisors Inc. bought a new position in Boston Scientific in the third quarter worth $28,000. Dunhill Financial LLC boosted its stake in 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 in the last quarter. Global Wealth Strategies & Associates increased its holdings in Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 250 shares during the period. Finally, West Oak Capital LLC bought a new stake in Boston Scientific in the 4th quarter valued at $29,000. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BSX has been the topic of several recent research reports. UBS Group lifted their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Mizuho lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada upped 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. Citigroup raised their target price on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $107.39.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the sale, the executive vice president now owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. The trade was a 19.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,326 shares of company stock valued at $8,673,948 over the last ninety days. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 0.1 %

NYSE BSX opened at $106.20 on Friday. The stock has a market capitalization of $156.51 billion, a P/E ratio of 84.96, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a 52 week low of $65.33 and a 52 week high of $107.17. 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 stock has a fifty day moving average of $96.11 and a 200-day moving average of $87.97.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. On average, equities research analysts forecast that Boston Scientific Co. will post 2.83 EPS for the current year.

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.