Kornitzer Capital Management Inc. KS Lowers Stake in Boston Scientific Co. (NYSE:BSX)

Kornitzer Capital Management Inc. KS lessened its stake in Boston Scientific Co. (NYSE:BSX) by 52.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 154,541 shares of the medical equipment provider’s stock after selling 171,475 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Boston Scientific were worth $8,934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BSX. International Assets Investment Management LLC bought a new stake in shares of Boston Scientific during the first quarter valued at approximately $54,000. Acadian Asset Management LLC purchased a new position in Boston Scientific during the 1st quarter worth $35,000. Prudential PLC bought a new stake in Boston Scientific during the 1st quarter valued at $1,076,000. Cetera Investment Advisers grew its position in shares of Boston Scientific by 24.0% during the 1st quarter. Cetera Investment Advisers now owns 28,793 shares of the medical equipment provider’s stock worth $1,275,000 after buying an additional 5,581 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Boston Scientific in the first quarter valued at about $230,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded down $0.09 during midday trading on Friday, reaching $67.33. The company’s stock had a trading volume of 6,966,282 shares, compared to its average volume of 5,053,271. The firm has a market capitalization of $98.78 billion, a PE ratio of 62.93, a P/E/G ratio of 2.36 and a beta of 0.78. The stock has a fifty day moving average of $67.25 and a 200 day moving average of $59.84. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $69.21. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping 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 company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the firm earned $0.45 EPS. On average, equities analysts expect that Boston Scientific Co. will post 2.25 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock valued at $3,418,529 in the last 90 days. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on BSX shares. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Royal Bank of Canada increased their target price on Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Needham & Company LLC boosted their price target on Boston Scientific from $60.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Mizuho raised Boston Scientific from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $80.00 in a research report on Thursday, February 1st. Finally, Truist Financial boosted their target price on shares of Boston Scientific from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.