NBW Capital LLC Reduces Holdings in Boston Scientific Co. (NYSE:BSX)

NBW Capital LLC decreased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 6.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 106,624 shares of the medical equipment provider’s stock after selling 7,347 shares during the period. NBW Capital LLC’s holdings in Boston Scientific were worth $3,833,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Private Advisor Group LLC grew its stake in shares of Boston Scientific by 3.1% during the third quarter. Private Advisor Group LLC now owns 24,259 shares of the medical equipment provider’s stock worth $897,000 after acquiring an additional 731 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Boston Scientific by 5.5% during the fourth quarter. Fulton Bank N.A. now owns 41,051 shares of the medical equipment provider’s stock worth $1,476,000 after acquiring an additional 2,149 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Boston Scientific by 9.1% during the third quarter. Victory Capital Management Inc. now owns 497,697 shares of the medical equipment provider’s stock worth $19,017,000 after acquiring an additional 41,380 shares during the last quarter. Prio Wealth Limited Partnership grew its stake in shares of Boston Scientific by 1.2% during the fourth quarter. Prio Wealth Limited Partnership now owns 1,082,390 shares of the medical equipment provider’s stock worth $38,912,000 after acquiring an additional 12,343 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Boston Scientific by 783.6% during the third quarter. Cubist Systematic Strategies LLC now owns 551,100 shares of the medical equipment provider’s stock worth $21,058,000 after acquiring an additional 488,728 shares during the last quarter. Institutional investors and hedge funds own 90.70% of the company’s stock.

Shares of BSX stock traded up $0.22 during trading hours on Tuesday, hitting $39.42. 166,057 shares of the company’s stock were exchanged, compared to its average volume of 11,288,236. The company has a quick ratio of 1.42, a current ratio of 1.87 and a debt-to-equity ratio of 0.60. The firm has a market cap of $56.45 billion, a P/E ratio of 15.02, a P/E/G ratio of 2.30 and a beta of 0.87. The firm has a 50 day moving average of $37.14 and a two-hundred day moving average of $37.27. Boston Scientific Co. has a fifty-two week low of $24.10 and a fifty-two week high of $42.37.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Tuesday, February 2nd. The medical equipment provider reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.08). Boston Scientific had a return on equity of 11.77% and a net margin of 36.59%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities analysts forecast that Boston Scientific Co. will post 1.05 earnings per share for the current fiscal year.

A number of research firms recently commented on BSX. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell decreased their target price on Boston Scientific from $46.00 to $43.00 in a report on Wednesday, November 18th. Morgan Stanley lifted their target price on Boston Scientific from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, December 15th. Piper Sandler lifted their target price on Boston Scientific from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, February 3rd. Needham & Company LLC lifted their target price on Boston Scientific from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, February 12th. Finally, Raymond James lifted their target price on Boston Scientific from $39.00 to $43.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $42.54.

In related news, CFO Daniel J. Brennan sold 17,083 shares of the business’s stock in a transaction that occurred on Tuesday, January 5th. The stock was sold at an average price of $35.32, for a total transaction of $603,371.56. Following the completion of the sale, the chief financial officer now directly owns 263,243 shares in the company, valued at $9,297,742.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey B. Mirviss sold 46,584 shares of the business’s stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $33.53, for a total value of $1,561,961.52. The disclosure for this sale can be found here. Insiders have sold 83,092 shares of company stock valued at $2,881,673 over the last quarter. 0.70% of the stock is owned by company insiders.

About Boston Scientific

Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.

Read More: How dollar cost averaging works

Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Co. (NYSE:BSX).

Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.