Boston Scientific Co. (NYSE:BSX) Stock Position Decreased by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 626,600 shares of the medical equipment provider’s stock after selling 7,739 shares during the period. Boston Scientific makes up about 1.9% of ZWJ Investment Counsel Inc.’s holdings, making the stock its 24th biggest position. ZWJ Investment Counsel Inc.’s holdings in Boston Scientific were worth $36,224,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BSX. Bruce G. Allen Investments LLC purchased a new position in Boston Scientific during the 4th quarter worth approximately $28,000. Sunbelt Securities Inc. purchased a new position in shares of Boston Scientific during the first quarter valued at $32,000. Motco raised its position in Boston Scientific by 136.3% during the third quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 372 shares during the period. Venturi Wealth Management LLC lifted its stake in Boston Scientific by 58.0% in the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 215 shares in the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new stake in Boston Scientific during the 2nd quarter worth about $34,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Shares of BSX traded down $0.09 during trading hours on Friday, reaching $67.33. 6,951,272 shares of the company traded hands, compared to its average volume of 6,377,005. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $69.21. The stock has a market cap of $98.78 billion, a P/E ratio of 62.93, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. The stock’s fifty day moving average is $67.25 and its 200 day moving average is $59.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32.

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

Insider Buying and Selling

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 value of $455,210.00. Following the sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the firm’s 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 completion of the transaction, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the sale, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock valued at $3,418,529 over the last ninety days. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BSX shares. JPMorgan Chase & Co. upped their target price on Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Wells Fargo & Company lifted their target price on shares of Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Evercore ISI increased their price objective on Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, TD Cowen boosted their target price on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.