Berger Financial Group Inc Increases Position in Boston Scientific Co. (NYSE:BSX)

Berger Financial Group Inc grew its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 23.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,178 shares of the medical equipment provider’s stock after purchasing an additional 1,922 shares during the period. Berger Financial Group Inc’s holdings in Boston Scientific were worth $909,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after buying an additional 1,600,062 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after acquiring an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Boston Scientific by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock worth $2,729,371,000 after purchasing an additional 1,041,329 shares during the last quarter. Capital World Investors boosted its stake in Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock worth $2,492,041,000 after purchasing an additional 6,216,199 shares in the last quarter. Finally, Norges Bank purchased a new stake in Boston Scientific during the 4th quarter valued at about $1,762,522,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the sale, the executive vice president now owns 25,443 shares in the company, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president now owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 138,009 shares of company stock valued at $14,407,381. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $101.96 on Monday. Boston Scientific Co. has a 52 week low of $70.97 and a 52 week high of $107.17. The company has a market capitalization of $150.81 billion, a PE ratio of 81.57, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The stock’s fifty day moving average is $98.68 and its two-hundred day moving average is $94.92. 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 posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on BSX. Citigroup upped their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley increased their target price on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Friday, January 10th. Piper Sandler lifted their price objective on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Raymond James upped their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $114.52.

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.