Fullcircle Wealth LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Fullcircle Wealth LLC acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,313 shares of the medical equipment provider’s stock, valued at approximately $207,000.

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

Wall Street Analyst Weigh In

BSX has been the subject of a number of research reports. Truist Financial boosted their target price on shares of Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Piper Sandler increased their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. BTIG Research restated a “buy” rating and issued a $124.00 price objective on shares of Boston Scientific in a research report on Wednesday, April 23rd. Morgan Stanley raised their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Argus set a $130.00 target price on shares of Boston Scientific in a report on Tuesday, February 18th. Twenty-three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and a consensus target price of $114.52.

Insiders Place Their Bets

In related news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the transaction, the chief executive officer now owns 1,535,706 shares in the company, valued at approximately $157,379,150.88. The trade was a 9.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward J. Ludwig sold 12,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total value of $1,265,760.00. Following the transaction, the director now owns 24,398 shares in the company, valued at approximately $2,573,501.04. This represents a 32.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 300,497 shares of company stock valued at $31,056,815 in the last quarter. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Performance

NYSE:BSX opened at $103.32 on Friday. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The company has a market capitalization of $152.86 billion, a P/E ratio of 82.66, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $98.70 and a two-hundred day moving average price of $95.83.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. As a group, research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.