Wealth Enhancement Advisory Services LLC Has $7.16 Million Stake in Boston Scientific Co. (NYSE:BSX)

Wealth Enhancement Advisory Services LLC trimmed its stake in Boston Scientific Co. (NYSE:BSX) by 49.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 80,153 shares of the medical equipment provider’s stock after selling 78,385 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Boston Scientific were worth $7,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Covenant Asset Management LLC acquired a new stake in Boston Scientific in the 4th quarter worth $3,405,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Boston Scientific during the 4th quarter worth about $1,174,000. Jackson Wealth Management LLC lifted its holdings in shares of Boston Scientific by 1,201.1% during the 4th quarter. Jackson Wealth Management LLC now owns 51,770 shares of the medical equipment provider’s stock worth $4,624,000 after acquiring an additional 47,791 shares during the period. Wealthstar Advisors LLC bought a new position in shares of Boston Scientific during the 4th quarter worth about $499,000. Finally, GEN Financial Management INC. bought a new position in shares of Boston Scientific during the 4th quarter worth about $266,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Up 0.6%

Shares of NYSE BSX opened at $105.08 on Monday. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.17. The company has a market cap of $155.46 billion, a PE ratio of 84.06, a P/E/G 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 company has a 50-day moving average of $100.29 and a two-hundred day moving average of $98.02.

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, 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 company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. As a group, equities analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 1,535,706 shares in the company, valued at $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,155 shares of company stock valued at $19,556,047. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Piper Sandler raised their price objective 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. Truist Financial raised their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Evercore ISI raised their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company raised their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Twenty-one analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $116.00.

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.