Yousif Capital Management LLC Reduces Position in Boston Scientific Co. (NYSE:BSX)

Yousif Capital Management LLC lowered its holdings in Boston Scientific Co. (NYSE:BSX) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 250,693 shares of the medical equipment provider’s stock after selling 9,476 shares during the period. Yousif Capital Management LLC’s holdings in Boston Scientific were worth $14,493,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BSX. FMR LLC grew its position in shares of Boston Scientific by 6.8% during the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after buying an additional 8,045,263 shares in the last quarter. Vanguard Group Inc. grew its holdings in Boston Scientific by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock worth $6,534,969,000 after acquiring an additional 1,525,432 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Boston Scientific by 5.9% in the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after purchasing an additional 2,336,348 shares during the last quarter. Morgan Stanley raised its stake in shares of Boston Scientific by 2.3% in the 3rd quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock valued at $1,119,378,000 after purchasing an additional 481,891 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Boston Scientific by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 17,207,345 shares of the medical equipment provider’s stock worth $908,548,000 after purchasing an additional 51,293 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $66.35, for a total transaction of $463,322.05. Following the sale, the executive vice president now owns 53,788 shares in the company, valued at approximately $3,568,833.80. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock valued at $3,418,529 over the last three months. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

BSX traded up $3.97 on Wednesday, reaching $72.96. The company had a trading volume of 11,329,377 shares, compared to its average volume of 6,474,063. Boston Scientific Co. has a one year low of $48.35 and a one year high of $74.39. The company has a market capitalization of $107.04 billion, a P/E ratio of 68.38, a PEG ratio of 2.38 and a beta of 0.78. The company has a fifty day moving average of $67.39 and a 200-day moving average of $60.19. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the firm posted $0.45 earnings per share. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Wall Street Analyst Weigh In

BSX has been the topic of a number of research analyst reports. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 16th. BTIG Research reiterated a “buy” rating and set a $64.00 target price on shares of Boston Scientific in a research note on Friday, December 29th. Raymond James increased their target price on shares of Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 1st. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, Needham & Company LLC increased their price objective on shares of Boston Scientific from $60.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.50.

Boston Scientific Company 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.