Legacy Capital Wealth Partners LLC Makes New Investment in Boston Scientific Co. (NYSE:BSX)

Legacy Capital Wealth Partners LLC bought a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,107 shares of the medical equipment provider's stock, valued at approximately $278,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Creative Planning lifted its stake in shares of Boston Scientific by 7.7% in the 3rd quarter. Creative Planning now owns 204,208 shares of the medical equipment provider's stock valued at $17,113,000 after acquiring an additional 14,663 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Boston Scientific by 11.5% in the 3rd quarter. Global Retirement Partners LLC now owns 4,370 shares of the medical equipment provider's stock valued at $366,000 after acquiring an additional 449 shares during the last quarter. Stratos Wealth Advisors LLC lifted its stake in shares of Boston Scientific by 8.9% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,419 shares of the medical equipment provider's stock valued at $538,000 after acquiring an additional 522 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Boston Scientific by 91.6% in the 3rd quarter. Blue Trust Inc. now owns 10,492 shares of the medical equipment provider's stock valued at $808,000 after acquiring an additional 5,017 shares during the last quarter. Finally, Capital Investment Advisors LLC bought a new position in shares of Boston Scientific in the 3rd quarter valued at $217,000. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the sale, the executive vice president now directly owns 29,308 shares of the company's stock, valued at approximately $2,660,580.24. This represents a 19.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific 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 transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,640 shares of company stock worth $15,718,289 in the last three months. Company insiders own 0.50% of the company's stock.

Boston Scientific Trading Down 0.9 %

Boston Scientific stock traded down $0.93 during trading hours on Friday, reaching $104.44. 5,512,880 shares of the company's stock were exchanged, compared to its average volume of 6,033,932. 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 firm's 50 day simple moving average is $97.98 and its 200 day simple moving average is $89.27. The firm has a market capitalization of $154.12 billion, a PE ratio of 83.55, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $65.52 and a twelve month high of $107.17.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley increased their price target on Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Canaccord Genuity Group raised their target price on Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 target price for the company in a research report on Friday, January 10th. Sanford C. Bernstein raised their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Finally, Barclays raised their target price on Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of "Moderate Buy" and an average price target of $107.39.

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.