Exchange Traded Concepts LLC Sells 1,035 Shares of Boston Scientific Co. (NYSE:BSX)

Exchange Traded Concepts LLC trimmed its position in Boston Scientific Co. (NYSE:BSX) by 8.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,622 shares of the medical equipment provider’s stock after selling 1,035 shares during the period. Exchange Traded Concepts LLC’s holdings in Boston Scientific were worth $1,038,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates increased its holdings in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. West Oak Capital LLC acquired a new position in Boston Scientific during the fourth quarter worth $29,000. Dunhill Financial LLC lifted its stake in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 152 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of Boston Scientific during the third quarter valued at about $28,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Boston Scientific during the third quarter worth about $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,989 shares of company stock worth $2,702,261. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

NYSE BSX opened at $102.41 on Wednesday. The firm has a market cap of $150.93 billion, a P/E ratio of 84.63, a price-to-earnings-growth ratio of 2.63 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $92.50 and its 200-day moving average is $85.63. Boston Scientific Co. has a 12-month low of $60.78 and a 12-month high of $102.93.

Wall Street Analyst Weigh In

BSX has been the topic of several recent research reports. Royal Bank of Canada lifted their price target on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Mizuho lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their price target on Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Stifel Nicolaus raised their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $97.26.

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.