Wealth High Governance Capital Ltda Takes Position in Boston Scientific Co. (NYSE:BSX)

Wealth High Governance Capital Ltda bought a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 49,750 shares of the medical equipment provider’s stock, valued at approximately $4,444,000. Boston Scientific comprises 1.6% of Wealth High Governance Capital Ltda’s portfolio, making the stock its 29th biggest holding.

Other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Boston Scientific during the 4th quarter worth $190,780,000. State Street Corp lifted its position in shares of 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 buying an additional 1,389,172 shares during the last quarter. Fisher Funds Management LTD bought a new stake in shares of Boston Scientific during the 4th quarter worth $94,710,000. Fisher Asset Management LLC lifted its position in shares of Boston Scientific by 21.6% during the 4th quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock worth $518,138,000 after buying an additional 1,028,977 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its position in shares of Boston Scientific by 17.5% during the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after buying an additional 815,403 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Up 1.5 %

BSX stock opened at $95.59 on Wednesday. Boston Scientific Co. has a twelve month low of $65.52 and a twelve month high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $100.66 and its 200-day moving average is $91.49. The firm has a market capitalization of $141.07 billion, a PE ratio of 76.47, a P/E/G ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last posted its 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 return on equity of 17.80% and a net margin of 11.07%. Sell-side analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the sale, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,302 shares of company stock worth $14,319,269. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BSX. Wells Fargo & Company upped their price objective on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada upped their price objective on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research report on Monday, March 3rd. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Piper Sandler increased their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $108.91.

Boston Scientific 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.