FineMark National Bank & Trust Takes $206,000 Position in Boston Scientific Co. (NYSE:BSX)

FineMark National Bank & Trust acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,301 shares of the medical equipment provider’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kingsview Wealth Management LLC raised its stake in shares of Boston Scientific by 5.0% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,970 shares of the medical equipment provider’s stock valued at $500,000 after acquiring an additional 282 shares during the period. Truvestments Capital LLC purchased a new stake in Boston Scientific in the third quarter valued at approximately $49,000. The Manufacturers Life Insurance Company lifted its stake in Boston Scientific by 1.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,120,466 shares of the medical equipment provider’s stock worth $93,895,000 after purchasing an additional 20,330 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Boston Scientific by 3.2% during the third quarter. D.A. Davidson & CO. now owns 10,945 shares of the medical equipment provider’s stock worth $917,000 after buying an additional 342 shares during the period. Finally, Avestar Capital LLC grew its stake in shares of Boston Scientific by 10.3% in the third quarter. Avestar Capital LLC now owns 12,397 shares of the medical equipment provider’s stock valued at $1,039,000 after buying an additional 1,158 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $102.31 on Thursday. The stock has a market cap of $151.32 billion, a P/E ratio of 81.85, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The stock has a 50 day moving average of $102.10 and a two-hundred day moving average of $92.87. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS 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, research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the sale, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares in the company, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,302 shares of company stock worth $14,319,269. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a report on Monday, March 3rd. Royal Bank of Canada lifted their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Raymond James increased their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Argus set a $130.00 price objective on Boston Scientific in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $108.91.

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.