Morey & Quinn Wealth Partners LLC Invests $1.13 Million in Boston Scientific Co. (NYSE:BSX)

Morey & Quinn Wealth Partners LLC acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,687 shares of the medical equipment provider's stock, valued at approximately $1,133,000. Boston Scientific accounts for 1.0% of Morey & Quinn Wealth Partners LLC's portfolio, making the stock its 23rd largest holding.

Several other large investors have also made changes to their positions in BSX. TFC Financial Management Inc. lifted its position in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 210 shares during the period. Dunhill Financial LLC lifted its holdings in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 152 shares during the period. Global Wealth Strategies & Associates boosted its stake in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock worth $28,000 after buying an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new stake in Boston Scientific during the fourth quarter worth about $29,000. Finally, Valley National Advisers Inc. raised its position in Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 286 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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Boston Scientific Trading Down 1.5 %

Boston Scientific stock traded down $1.51 during trading on Friday, reaching $99.29. 7,402,670 shares of the company were exchanged, compared to its average volume of 6,051,507. The stock's 50 day simple moving average is $102.16 and its two-hundred day simple moving average is $93.11. The company has a market capitalization of $146.86 billion, a P/E ratio of 79.43, a PEG ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week high of $107.17.

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

Insider Activity

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares in the company, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now owns 35,319 shares of the company's stock, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock valued at $14,319,269 in the last 90 days. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BSX shares. Royal Bank of Canada upped their price objective on Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Truist Financial upped their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Wells Fargo & Company raised their target price on Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Finally, Barclays upped their price target on Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $108.91.

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.