ZWJ Investment Counsel Inc. Increases Holdings in Boston Scientific Co. (NYSE:BSX)

ZWJ Investment Counsel Inc. increased its position in Boston Scientific Co. (NYSE:BSX) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 617,304 shares of the medical equipment provider’s stock after buying an additional 1,761 shares during the quarter. Boston Scientific comprises 2.3% of ZWJ Investment Counsel Inc.’s holdings, making the stock its 13th largest position. ZWJ Investment Counsel Inc.’s holdings in Boston Scientific were worth $55,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific in the 3rd quarter valued at $28,000. Dunhill Financial LLC boosted its position in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 152 shares during the period. Global Wealth Strategies & Associates boosted its position in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 250 shares during the period. West Oak Capital LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at about $29,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific in the third quarter worth about $30,000. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BTIG Research raised their price target on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Evercore ISI raised their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Royal Bank of Canada upped their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Mizuho raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Bank of America boosted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.26.

Boston Scientific Stock Performance

Boston Scientific stock opened at $98.73 on Tuesday. Boston Scientific Co. has a twelve month low of $59.85 and a twelve month high of $99.14. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $145.52 billion, a P/E ratio of 81.60, a PEG ratio of 2.48 and a beta of 0.80. The stock’s 50 day moving average is $91.00 and its 200 day moving average is $84.60.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. On average, equities research analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,989 shares of company stock valued at $2,702,261. 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.