Boston Scientific Co. (NYSE:BSX) Shares Sold by Brasada Capital Management LP

by · The Markets Daily

Brasada Capital Management LP trimmed its position in shares of Boston Scientific Co. (NYSE:BSX – Free Report) by 0.8% during the fourth quarter, Holdings Channel reports. The firm owned 95,277 shares of the medical equipment provider’s stock after selling 786 shares during the quarter. Boston Scientific makes up approximately 1.6% of Brasada Capital Management LP’s portfolio, making the stock its 18th biggest holding. Brasada Capital Management LP’s holdings in Boston Scientific were worth $8,961,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BSX. TFC Financial Management Inc. boosted its position in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares during the period. Global Wealth Strategies & Associates raised its stake in Boston Scientific by 423.7% during the 4th 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 in the last quarter. West Oak Capital LLC purchased a new stake in Boston Scientific in the fourth quarter valued at approximately $29,000. Valley National Advisers Inc. boosted its stake in shares of Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 286 shares during the period. Finally, Fairway Wealth LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth $36,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In other Boston Scientific news, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the completion of the sale, the executive vice president now owns 26,449 shares in the company, valued at $2,776,351.53. This represents a 19.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. The trade was a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,009 shares of company stock worth $14,407,381 in the last three months. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BSX shares. Truist Financial cut their price target on shares of Boston Scientific from $120.00 to $113.00 and set a “buy” rating for the company in a report on Friday, April 11th. UBS Group increased their target price on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Wells Fargo & Company upped their target price on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada lifted their price objective on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Piper Sandler lifted their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific has an average rating of “Buy” and a consensus target price of $110.22.

Read Our Latest Stock Analysis on Boston Scientific

Boston Scientific Stock Up 1.5 %

Shares of Boston Scientific stock opened at $94.96 on Wednesday. The business’s fifty day moving average price is $99.00 and its two-hundred day moving average price is $94.55. The company has a market capitalization of $140.45 billion, a P/E ratio of 75.97, a PEG ratio of 2.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 1-year low of $67.80 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX – Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, research analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current year.

About Boston Scientific

(Free Report)

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.

Further Reading

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