Merit Financial Group LLC Raises Position in Boston Scientific Co. (NYSE:BSX)

Merit Financial Group LLC raised its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,482 shares of the medical equipment provider's stock after acquiring an additional 11,502 shares during the quarter. Merit Financial Group LLC's holdings in Boston Scientific were worth $9,600,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock worth $345,205,000 after purchasing an additional 173,034 shares during the period. Brookstone Capital Management grew its holdings in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock valued at $9,455,000 after buying an additional 20,307 shares in the last quarter. HWG Holdings LP bought a new position in Boston Scientific during the 2nd quarter worth $482,000. Principal Financial Group Inc. lifted its holdings in shares of Boston Scientific by 5.9% during the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider's stock worth $168,475,000 after buying an additional 111,724 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Boston Scientific by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider's stock valued at $289,675,000 after acquiring an additional 30,636 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Up 0.6 %

Boston Scientific stock traded up $0.56 during trading hours on Friday, hitting $98.73. The stock had a trading volume of 6,946,303 shares, compared to its average volume of 4,333,857. The stock has a market cap of $145.52 billion, a price-to-earnings ratio of 81.60, a P/E/G ratio of 2.48 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The business's 50 day simple moving average is $91.00 and its 200-day simple moving average is $84.49. Boston Scientific Co. has a one year low of $59.85 and a one year high of $99.14.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the business earned $0.50 EPS. The firm's quarterly revenue was up 19.3% on a year-over-year basis. On average, equities analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % 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 valued at $2,702,261 over the last 90 days. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BSX shares. Bank of America raised their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price target for the company in a research report on Friday, January 10th. Stifel Nicolaus increased their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Mizuho raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Finally, StockNews.com downgraded Boston Scientific from a "buy" rating to a "hold" rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.26.

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.