NewSquare Capital LLC Trims Position in Boston Scientific Co. (NYSE:BSX)

NewSquare Capital LLC decreased its position in Boston Scientific Co. (NYSE:BSX) by 97.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,763 shares of the medical equipment provider’s stock after selling 58,892 shares during the period. NewSquare Capital LLC’s holdings in Boston Scientific were worth $102,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $472,000. PDS Planning Inc boosted its stake in Boston Scientific by 11.1% during the fourth quarter. PDS Planning Inc now owns 4,964 shares of the medical equipment provider’s stock worth $287,000 after buying an additional 496 shares during the period. Aspire Private Capital LLC lifted its holdings in shares of Boston Scientific by 10.9% in the 4th quarter. Aspire Private Capital LLC now owns 7,885 shares of the medical equipment provider’s stock worth $456,000 after acquiring an additional 773 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Boston Scientific by 3.0% during the 4th quarter. California Public Employees Retirement System now owns 3,798,511 shares of the medical equipment provider’s stock worth $219,592,000 after purchasing an additional 112,222 shares during the period. Finally, Jennison Associates LLC increased its holdings in Boston Scientific by 1.3% in the 4th quarter. Jennison Associates LLC now owns 1,227,833 shares of the medical equipment provider’s stock valued at $70,981,000 after purchasing an additional 15,596 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX traded up $4.37 during mid-day trading on Wednesday, hitting $73.36. The company’s stock had a trading volume of 9,069,437 shares, compared to its average volume of 6,458,709. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $67.39 and a 200 day simple moving average of $60.19. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $74.39. The firm has a market capitalization of $107.63 billion, a P/E ratio of 68.38, a P/E/G ratio of 2.38 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping 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 firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the company earned $0.45 EPS. Analysts predict that Boston Scientific Co. will post 2.25 EPS for the current fiscal year.

Insider Activity

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the sale, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the sale, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BSX has been the subject of a number of research reports. Needham & Company LLC lifted their price objective on Boston Scientific from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Oppenheimer upped their price objective on Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, February 1st. Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $80.00 in a report on Thursday, February 1st. Citigroup upped their price target on Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

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.