Meeder Asset Management Inc. Reduces Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Meeder Asset Management Inc. trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 90.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 376 shares of the medical equipment provider’s stock after selling 3,726 shares during the quarter. Meeder Asset Management Inc.’s holdings in Boston Scientific were worth $29,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sierra Summit Advisors LLC purchased a new position in Boston Scientific during the 4th quarter worth $8,038,000. TD Asset Management Inc grew its stake in Boston Scientific by 10.7% during the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after buying an additional 155,565 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in Boston Scientific by 225.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after buying an additional 73,219 shares during the last quarter. BDF Gestion purchased a new position in Boston Scientific during the 2nd quarter worth $3,570,000. Finally, Precision Wealth Strategies LLC purchased a new position in Boston Scientific during the 4th quarter worth $956,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Boston Scientific in a research note on Thursday, May 30th. They set a “buy” rating and a $90.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Morgan Stanley boosted their price target on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Raymond James boosted their price target on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Citigroup boosted their price target on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Boston Scientific Stock Performance

NYSE BSX opened at $83.31 on Monday. The stock has a market capitalization of $122.68 billion, a price-to-earnings ratio of 70.01, a PEG ratio of 2.75 and a beta of 0.79. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $84.11. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average of $78.08 and a 200 day moving average of $74.16.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. Sell-side analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Boston Scientific 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.