Boston Scientific Co. (NYSE:BSX) Shares Sold by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 24.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 337,354 shares of the medical equipment provider’s stock after selling 109,842 shares during the quarter. Boston Scientific comprises approximately 4.0% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 4th biggest position. Parkman Healthcare Partners LLC’s holdings in Boston Scientific were worth $30,132,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. TFC Financial Management Inc. grew its stake in shares of 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 purchasing an additional 210 shares during the last quarter. Colonial Trust Co SC boosted its position in Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 260 shares in the last quarter. West Oak Capital LLC acquired a new position in shares of Boston Scientific in the fourth quarter worth $29,000. Valley National Advisers Inc. raised its holdings in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 286 shares during the last quarter. Finally, Fairway Wealth LLC acquired a new position in shares of Boston Scientific in the fourth quarter worth $36,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on BSX shares. Raymond James upped their target price on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Royal Bank of Canada raised their price target on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Finally, Evercore ISI raised their target price on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Twenty-three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $114.52.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $102.92 on Wednesday. The firm has a market cap of $152.26 billion, a PE ratio of 82.34, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The firm’s fifty day moving average is $98.69 and its 200-day moving average is $96.24.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter last year, the business posted $0.56 EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. Sell-side analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now directly owns 1,535,706 shares in the company, valued at $157,379,150.88. This trade represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,021 shares of company stock valued at $27,534,636. Insiders own 0.50% of the company’s stock.

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.