Brendel Financial Advisors LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Brendel Financial Advisors LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 22,815 shares of the medical equipment provider's stock, valued at approximately $2,038,000.

Other hedge funds have also made changes to their positions in the company. Marshall Wace LLP lifted its holdings in shares of Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider's stock worth $517,544,000 after acquiring an additional 3,608,158 shares during the last quarter. AustralianSuper Pty Ltd lifted its stake in Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider's stock worth $224,320,000 after purchasing an additional 2,615,903 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider's stock valued at $608,349,000 after buying an additional 1,824,405 shares in the last quarter. State Street Corp raised its holdings in shares of Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock valued at $5,266,522,000 after buying an additional 1,389,172 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Boston Scientific by 98.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider's stock worth $184,810,000 after acquiring an additional 1,091,561 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Transactions at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,877 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares in the company, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares of the company's stock, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock worth $2,702,261 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BSX. Needham & Company LLC reiterated a "hold" rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Morgan Stanley raised their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Citigroup upped their price objective on Boston Scientific from $98.00 to $107.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Truist Financial boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Finally, Evercore ISI increased their price target on Boston Scientific from $82.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. Three equities 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.26.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded up $1.38 on Wednesday, reaching $97.03. The company's stock had a trading volume of 2,790,568 shares, compared to its average volume of 5,070,883. The stock has a market capitalization of $143.01 billion, a P/E ratio of 80.19, a PEG ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $59.61 and a 52-week high of $97.36. The stock's 50-day moving average is $90.36 and its two-hundred day moving average is $84.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping 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 for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Boston Scientific Company 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.