Benjamin Edwards Inc. Boosts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Benjamin Edwards Inc. lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,983 shares of the medical equipment provider’s stock after purchasing an additional 829 shares during the quarter. Benjamin Edwards Inc.’s holdings in Boston Scientific were worth $1,338,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of BSX. TFC Financial Management Inc. raised 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 valued at $25,000 after acquiring an additional 210 shares in the last quarter. West Oak Capital LLC bought a new position in shares of Boston Scientific in the 4th quarter worth $29,000. Valley National Advisers Inc. raised its position in shares of 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 buying an additional 286 shares in the last quarter. Fairway Wealth LLC bought a new stake in shares of Boston Scientific during the 4th quarter worth $36,000. Finally, Global Trust Asset Management LLC grew its position in Boston Scientific by 64.5% in the fourth quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 171 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 1,201 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 307,025 shares of company stock worth $31,742,060 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BSX shares. Robert W. Baird raised their price target on Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Argus set a $130.00 price objective on Boston Scientific in a report on Tuesday, February 18th. Needham & Company LLC upped their target price on Boston Scientific from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. UBS Group lifted their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Morgan Stanley upped their price objective 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. Twenty-three research 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, Boston Scientific currently has a consensus rating of “Buy” and an average target price of $114.52.

Boston Scientific Stock Up 0.7 %

Shares of Boston Scientific stock opened at $104.81 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.17. The company has a market cap of $155.06 billion, a P/E ratio of 83.85, a PEG ratio of 2.79 and a beta of 0.68. The company’s fifty day simple moving average is $98.73 and its two-hundred day simple moving average is $95.72.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 11.07% and a return on equity of 17.80%. Boston Scientific’s revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share. Research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current year.

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.