Monetary Management Group Inc. Buys New Stake in Boston Scientific Co. (NYSE:BSX)

Monetary Management Group Inc. bought a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,860 shares of the medical equipment provider's stock, valued at approximately $255,000.

Other institutional investors have also recently made changes to their positions in the company. Kennedy Capital Management LLC grew its holdings in Boston Scientific by 26.2% in the fourth quarter. Kennedy Capital Management LLC now owns 99,515 shares of the medical equipment provider's stock worth $8,889,000 after purchasing an additional 20,635 shares during the period. Treasurer of the State of North Carolina increased its position in Boston Scientific by 0.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 665,490 shares of the medical equipment provider's stock valued at $59,442,000 after buying an additional 2,560 shares in the last quarter. Legacy Financial Advisors Inc. raised its stake in Boston Scientific by 33.8% during the fourth quarter. Legacy Financial Advisors Inc. now owns 5,320 shares of the medical equipment provider's stock valued at $475,000 after buying an additional 1,343 shares during the last quarter. CenterBook Partners LP purchased a new stake in shares of Boston Scientific in the fourth quarter worth $1,144,000. Finally, DRW Securities LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at $233,000. Institutional investors own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BSX. Royal Bank of Canada lifted their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Barclays upped their price target on Boston Scientific from $111.00 to $118.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Morgan Stanley boosted their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. UBS Group lifted their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company increased their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $110.22.

Boston Scientific Price Performance

BSX traded up $0.94 during trading hours on Wednesday, hitting $95.17. The company's stock had a trading volume of 3,690,200 shares, compared to its average volume of 7,844,577. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. 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 business's 50-day moving average price is $100.11 and its 200-day moving average price is $94.18. The stock has a market cap of $140.76 billion, a price-to-earnings ratio of 76.14, a P/E/G ratio of 2.79 and a beta of 0.73.

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

Insider Buying and Selling

In related news, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the sale, the chief financial officer now owns 225,808 shares in the company, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 6,528 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the transaction, the executive vice president now directly owns 26,449 shares in the company, valued at approximately $2,776,351.53. This trade represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,183 shares of company stock valued at $13,948,476 in the last ninety days. 0.50% of the stock is owned by company insiders.

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.