MTM Investment Management LLC Boosts Stock Position in Boston Scientific Co. (NYSE:BSX)

MTM Investment Management LLC raised its stake in Boston Scientific Co. (NYSE:BSX) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,772 shares of the medical equipment provider’s stock after purchasing an additional 150 shares during the period. MTM Investment Management LLC’s holdings in Boston Scientific were worth $516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after acquiring an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $415,000. Highland Capital Management LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $4,887,000. Brookstone Capital Management grew its stake in shares of Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after acquiring an additional 20,307 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. grew its stake in shares of Boston Scientific by 31.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after acquiring an additional 4,702 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BSX. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Truist Financial upped their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Citigroup upped their target price on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their target price on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Barclays upped their target price on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $107.39.

Boston Scientific Stock Down 0.2 %

Shares of NYSE:BSX opened at $105.80 on Thursday. 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 business has a fifty day moving average of $95.50 and a two-hundred day moving average of $87.72. The stock has a market cap of $155.93 billion, a P/E ratio of 84.64, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $64.54 and a 52-week high of $107.17.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. On average, research analysts expect that Boston Scientific Co. will post 2.83 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig sold 12,000 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the transaction, the director now directly owns 24,398 shares in the company, valued at approximately $2,573,501.04. This represents a 32.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,830 shares of company stock worth $6,415,729. 0.50% of the stock is currently owned by company insiders.

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.