Welch & Forbes LLC raised its position in Boston Scientific Co. (NYSE:BSX) by 0.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 398,445 shares of the medical equipment provider’s stock after purchasing an additional 850 shares during the period. Welch & Forbes LLC’s holdings in Boston Scientific were worth $18,018,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Allworth Financial LP increased its stake in Boston Scientific by 22.8% in the 4th quarter. Allworth Financial LP now owns 1,345 shares of the medical equipment provider’s stock valued at $61,000 after buying an additional 250 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Boston Scientific in the 4th quarter valued at about $238,000. Cerebellum GP LLC increased its stake in Boston Scientific by 148.5% in the 4th quarter. Cerebellum GP LLC now owns 12,676 shares of the medical equipment provider’s stock valued at $573,000 after buying an additional 7,576 shares during the last quarter. Gradient Investments LLC purchased a new stake in Boston Scientific in the 4th quarter valued at about $3,664,000. Finally, Coastline Trust Co increased its stake in Boston Scientific by 11.1% in the 4th quarter. Coastline Trust Co now owns 10,000 shares of the medical equipment provider’s stock valued at $452,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.
In other Boston Scientific news, EVP David A. Pierce sold 2,152 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $45.50, for a total value of $97,916.00. Following the sale, the executive vice president now directly owns 36,127 shares in the company, valued at approximately $1,643,778.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David A. Pierce sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $42.05, for a total transaction of $210,250.00. Following the completion of the sale, the executive vice president now owns 29,201 shares in the company, valued at $1,227,902.05. The disclosure for this sale can be found here. Insiders sold a total of 195,751 shares of company stock worth $8,680,501 over the last quarter. Corporate insiders own 0.66% of the company’s stock.
BSX traded up $0.95 on Friday, hitting $44.15. The company’s stock had a trading volume of 366,125 shares, compared to its average volume of 8,659,141. The company’s 50 day simple moving average is $44.60 and its 200-day simple moving average is $42.41. The firm has a market cap of $59.46 billion, a P/E ratio of 30.04, a price-to-earnings-growth ratio of 2.08 and a beta of 0.78. Boston Scientific Co. has a 12 month low of $34.35 and a 12 month high of $46.62. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.99.
Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Boston Scientific had a net margin of 10.49% and a return on equity of 23.10%. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the company posted $0.35 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities analysts predict that Boston Scientific Co. will post 1.57 earnings per share for the current fiscal year.
Several equities research analysts have commented on BSX shares. Needham & Company LLC lowered shares of Boston Scientific from a “strong-buy” rating to a “buy” rating and set a $53.00 price objective for the company. in a research note on Thursday, December 19th. Piper Sandler reissued a “buy” rating on shares of Boston Scientific in a research report on Tuesday. Morgan Stanley increased their target price on shares of Boston Scientific from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Guggenheim set a $53.00 target price on shares of Boston Scientific and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Boston Scientific from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Boston Scientific has an average rating of “Buy” and a consensus price target of $48.62.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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