Boston Scientific Co. (NYSE:BSX) Shares Bought by Focus Partners Wealth

Focus Partners Wealth raised its holdings in Boston Scientific Co. (NYSE:BSX) by 156.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 379,253 shares of the medical equipment provider’s stock after purchasing an additional 231,371 shares during the period. Focus Partners Wealth’s holdings in Boston Scientific were worth $33,881,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Mechanics Bank Trust Department purchased a new position in Boston Scientific during the fourth quarter worth $415,000. Highland Capital Management LLC purchased a new stake in Boston Scientific during the 4th quarter worth about $4,887,000. Covenant Asset Management LLC acquired a new position in Boston Scientific in the 4th quarter valued at about $3,405,000. Brookstone Capital Management lifted its holdings in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. boosted its stake in shares of Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after purchasing an additional 4,702 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of BSX stock opened at $102.87 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 $152.19 billion, a PE ratio of 82.30, 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 fifty day simple moving average of $98.68 and a 200-day simple moving average of $95.99.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company’s revenue was up 20.9% on a year-over-year basis. During the same period last year, the firm earned $0.56 earnings per share. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at $3,441,592.37. The trade was a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now owns 1,535,706 shares of the company’s stock, valued at approximately $157,379,150.88. The trade was a 9.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 300,497 shares of company stock valued at $31,056,815. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Argus set a $130.00 price objective on shares of Boston Scientific in a research note on Tuesday, February 18th. Needham & Company LLC raised their price objective on Boston Scientific from $113.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Piper Sandler lifted their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada raised their price target on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, BTIG Research restated a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Twenty-three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $114.52.

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.