Kane Investment Management Inc. Acquires New Shares in Boston Scientific Co. (NYSE:BSX)

Kane Investment Management Inc. bought a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,054 shares of the medical equipment provider's stock, valued at approximately $719,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. TFC Financial Management Inc. lifted its holdings in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 210 shares during the period. Global Wealth Strategies & Associates lifted its stake in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 250 shares during the period. West Oak Capital LLC acquired a new stake in shares of Boston Scientific in the fourth quarter worth $29,000. Valley National Advisers Inc. increased its stake in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock worth $35,000 after acquiring an additional 286 shares during the period. Finally, Fairway Wealth LLC acquired a new position in Boston Scientific during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Transactions at Boston Scientific

In other news, CFO Daniel J. Brennan sold 15,087 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the transaction, the chief financial officer now directly owns 241,451 shares of the company's stock, valued at approximately $25,369,256.57. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares of the company's stock, valued at $560,103.60. The trade was a 75.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,183 shares of company stock worth $13,948,476. Company insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 0.2 %

Shares of BSX traded down $0.17 during midday trading on Friday, hitting $95.08. The company had a trading volume of 6,672,959 shares, compared to its average volume of 6,370,413. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock has a market cap of $140.63 billion, a price-to-earnings ratio of 76.06, a PEG ratio of 2.79 and a beta of 0.73. The company's 50 day moving average price is $99.68 and its 200 day moving average price is $94.26.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping 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, equities research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on BSX shares. Argus set a $130.00 target price on Boston Scientific in a report on Tuesday, February 18th. Citigroup lifted their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Truist Financial lowered their target price on shares of Boston Scientific from $120.00 to $113.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company increased their price target on Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Finally, StockNews.com downgraded Boston Scientific from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $110.22.

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.