Argentarii LLC Buys New Shares in Boston Scientific Co. (NYSE:BSX)

Argentarii LLC bought a new stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 27,367 shares of the medical equipment provider's stock, valued at approximately $2,444,000. Boston Scientific makes up 1.2% of Argentarii LLC's portfolio, making the stock its 18th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in BSX. Adero Partners LLC grew its position in Boston Scientific by 3.3% in the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock valued at $334,000 after acquiring an additional 120 shares in the last quarter. Grove Bank & Trust grew its holdings in Boston Scientific by 4.4% during the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider's stock valued at $261,000 after purchasing an additional 122 shares in the last quarter. PFG Investments LLC increased its stake in Boston Scientific by 1.6% during the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider's stock worth $725,000 after buying an additional 125 shares during the period. Stonegate Investment Group LLC lifted its holdings in Boston Scientific by 1.6% in the 4th quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider's stock worth $699,000 after buying an additional 126 shares in the last quarter. Finally, Ashton Thomas Securities LLC boosted its position in Boston Scientific by 1.3% in the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider's stock valued at $835,000 after buying an additional 129 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Boston Scientific Stock Performance

NYSE:BSX traded up $0.90 during mid-day trading on Wednesday, hitting $96.42. The stock had a trading volume of 8,790,888 shares, compared to its average volume of 5,772,847. 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 simple moving average of $100.80 and a 200-day simple moving average of $91.52. The stock has a market capitalization of $142.29 billion, a price-to-earnings ratio of 77.14, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. On average, research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now directly owns 28,454 shares in the company, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,302 shares of company stock worth $14,319,269. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on BSX shares. Citigroup boosted their price target on Boston Scientific from $107.00 to $122.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Argus set a $130.00 target price on Boston Scientific in a research report on Tuesday, February 18th. Barclays raised their price target on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Wells Fargo & Company upped their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $108.91.

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.