Ethic Inc. Purchases 46,946 Shares of Boston Scientific Co. (NYSE:BSX)

Ethic Inc. raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 24.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 241,929 shares of the medical equipment provider’s stock after purchasing an additional 46,946 shares during the quarter. Ethic Inc.’s holdings in Boston Scientific were worth $21,609,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. TFC Financial Management Inc. lifted its position in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares in the last quarter. Colonial Trust Co SC raised its stake in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 260 shares during the last quarter. West Oak Capital LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at $29,000. Valley National Advisers Inc. increased its holdings in Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 286 shares in the last quarter. Finally, Fairway Wealth LLC purchased a new position in Boston Scientific in the 4th quarter worth about $36,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BSX. Morgan Stanley increased their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Royal Bank of Canada increased their target price on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Friday, January 10th. Twenty-three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific presently has an average rating of “Buy” and an average price target of $114.52.

Insider Buying and Selling

In other news, EVP John Bradley Sorenson sold 4,572 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the transaction, the executive vice president now owns 18,705 shares of the company’s stock, valued at approximately $1,955,420.70. This represents a 19.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the transaction, the executive vice president now owns 22,235 shares of the company’s stock, valued at approximately $2,269,304.10. The trade was a 43.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 300,497 shares of company stock worth $31,056,815 over the last three months. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Down 1.4 %

BSX opened at $103.32 on Friday. The firm has a 50-day simple moving average of $98.70 and a two-hundred day simple moving average of $95.83. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a market capitalization of $152.86 billion, a PE ratio of 82.66, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. 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 issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the company posted $0.56 EPS. The business’s revenue was up 20.9% on a year-over-year basis. Analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.