Forum Financial Management LP Has $1.19 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

Forum Financial Management LP lifted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 13.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,336 shares of the medical equipment provider’s stock after buying an additional 1,621 shares during the period. Forum Financial Management LP’s holdings in Boston Scientific were worth $1,191,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BSX. Janney Montgomery Scott LLC increased its holdings in Boston Scientific by 4.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 207,162 shares of the medical equipment provider’s stock worth $18,504,000 after purchasing an additional 8,522 shares in the last quarter. Brighton Jones LLC increased its holdings in Boston Scientific by 0.8% in the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock worth $2,445,000 after purchasing an additional 226 shares in the last quarter. CX Institutional increased its holdings in Boston Scientific by 16.5% in the 4th quarter. CX Institutional now owns 10,245 shares of the medical equipment provider’s stock worth $915,000 after purchasing an additional 1,451 shares in the last quarter. Sachetta LLC increased its holdings in Boston Scientific by 157.5% in the 4th quarter. Sachetta LLC now owns 1,450 shares of the medical equipment provider’s stock worth $130,000 after purchasing an additional 887 shares in the last quarter. Finally, Goelzer Investment Management Inc. increased its holdings in Boston Scientific by 1.8% in the 4th quarter. Goelzer Investment Management Inc. now owns 35,337 shares of the medical equipment provider’s stock worth $3,156,000 after purchasing an additional 628 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays upped their target price on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Raymond James upped their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Wells Fargo & Company upped their target price on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Morgan Stanley upped their target price on Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Twenty-three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $114.87.

Boston Scientific Stock Down 0.0%

Shares of Boston Scientific stock opened at $104.49 on Friday. Boston Scientific Co. has a one year low of $71.88 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock’s 50-day moving average is $99.97 and its 200 day moving average is $97.37. The firm has a market cap of $154.59 billion, a price-to-earnings ratio of 83.59, a PEG ratio of 2.79 and a beta of 0.68.

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

Insiders Place Their Bets

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. This represents a 14.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,830 shares of company stock worth $20,043,415. Corporate insiders own 0.50% of the company’s stock.

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.