Moran Wealth Management LLC Has $17.83 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

Moran Wealth Management LLC raised its position in Boston Scientific Co. (NYSE:BSX) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 199,624 shares of the medical equipment provider’s stock after buying an additional 623 shares during the period. Moran Wealth Management LLC’s holdings in Boston Scientific were worth $17,830,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BSX. State Street Corp grew its position in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Boston Scientific by 2.2% during the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after purchasing an additional 718,515 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Boston Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after buying an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Boston Scientific by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,475,031 shares of the medical equipment provider’s stock valued at $756,990,000 after buying an additional 456,654 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Boston Scientific by 21.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock valued at $518,138,000 after buying an additional 1,028,977 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BSX. Royal Bank of Canada increased their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Stifel Nicolaus increased their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Canaccord Genuity Group boosted their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. UBS Group increased their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Barclays boosted their target price on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $108.91.

Insider Activity at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,322 shares of company stock valued at $14,321,068. 0.50% of the stock is owned by insiders.

Boston Scientific Trading Down 1.6 %

NYSE BSX opened at $99.15 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock’s 50-day moving average is $100.45 and its 200-day moving average is $91.27. Boston Scientific Co. has a one year low of $65.52 and a one year high of $107.17. The firm has a market cap of $146.33 billion, a P/E ratio of 79.32, a P/E/G ratio of 2.79 and a beta of 0.77.

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 analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Sell-side analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.