Gryphon Financial Partners LLC Raises Holdings in Boston Scientific Co. (NYSE:BSX)

Gryphon Financial Partners LLC boosted its position in Boston Scientific Co. (NYSE:BSX) by 4.0% during the fourth quarter, HoldingsChannel reports. The fund owned 4,355 shares of the medical equipment provider’s stock after buying an additional 166 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Boston Scientific were worth $389,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in Boston Scientific by 5.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 11,323 shares of the medical equipment provider’s stock worth $949,000 after buying an additional 580 shares during the period. Princeton Global Asset Management LLC purchased a new stake in shares of Boston Scientific during the third quarter worth $68,000. Optas LLC boosted its holdings in shares of Boston Scientific by 23.3% in the third quarter. Optas LLC now owns 3,551 shares of the medical equipment provider’s stock worth $298,000 after acquiring an additional 670 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Boston Scientific by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 45,870 shares of the medical equipment provider’s stock valued at $3,844,000 after purchasing an additional 214 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Boston Scientific by 18.1% during the 3rd quarter. Van ECK Associates Corp now owns 57,894 shares of the medical equipment provider’s stock valued at $5,063,000 after purchasing an additional 8,882 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,322 shares of company stock worth $14,321,068 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Cowen lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Canaccord Genuity Group boosted their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Stifel Nicolaus increased their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Raymond James increased their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $108.91.

Boston Scientific Stock Performance

NYSE BSX opened at $104.82 on Tuesday. The firm has a market cap of $154.69 billion, a price-to-earnings ratio of 83.86, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a 12-month low of $65.52 and a 12-month high of $107.17. The company has a 50-day simple moving average of $99.57 and a two-hundred day simple moving average of $90.61. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, equities analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current year.

About Boston Scientific

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.