Physician Wealth Advisors Inc. Takes Position in Boston Scientific Co. (NYSE:BSX)

Physician Wealth Advisors Inc. acquired a new position in Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 998 shares of the medical equipment provider’s stock, valued at approximately $89,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BSX. 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 valued at $917,000 after buying an additional 342 shares during the last quarter. Townsquare Capital LLC lifted its stake in Boston Scientific by 191.9% during the 3rd quarter. Townsquare Capital LLC now owns 26,896 shares of the medical equipment provider’s stock valued at $2,254,000 after acquiring an additional 17,683 shares during the period. Glenmede Trust Co. NA grew its stake in shares of Boston Scientific by 19.0% in the third quarter. Glenmede Trust Co. NA now owns 20,463 shares of the medical equipment provider’s stock worth $1,715,000 after acquiring an additional 3,261 shares during the period. CreativeOne Wealth LLC raised its holdings in shares of Boston Scientific by 62.0% during the third quarter. CreativeOne Wealth LLC now owns 4,478 shares of the medical equipment provider’s stock valued at $375,000 after purchasing an additional 1,714 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in Boston Scientific by 0.8% during the third quarter. Hantz Financial Services Inc. now owns 33,367 shares of the medical equipment provider’s stock valued at $2,796,000 after purchasing an additional 263 shares during the period. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Down 1.5 %

BSX opened at $99.29 on Monday. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week 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 firm has a 50-day simple moving average of $102.16 and a two-hundred day simple moving average of $93.18. The company has a market capitalization of $146.86 billion, a PE ratio of 79.43, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

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, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on BSX. JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Canaccord Genuity Group raised their target price on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Stifel Nicolaus upped their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Citigroup boosted their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada increased their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Two equities research 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.com, the company 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 Boston Scientific stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was 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 on 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 sale, the executive vice president now 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 137,302 shares of company stock valued at $14,319,269 over the last 90 days. 0.50% of the stock is owned by corporate 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.