NewEdge Advisors LLC Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

NewEdge Advisors LLC lifted its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 88,895 shares of the medical equipment provider's stock after acquiring an additional 5,416 shares during the period. NewEdge Advisors LLC's holdings in Boston Scientific were worth $7,940,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. TFC Financial Management Inc. raised its holdings in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 210 shares during the period. Global Wealth Strategies & Associates increased its holdings 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 worth $28,000 after purchasing an additional 250 shares during the period. West Oak Capital LLC purchased a new position in Boston Scientific in the fourth quarter worth approximately $29,000. Valley National Advisers Inc. grew its stake in shares of Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 286 shares in the last quarter. Finally, Fairway Wealth LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Price Performance

Shares of BSX stock traded up $3.96 during mid-day trading on Wednesday, reaching $99.01. The stock had a trading volume of 10,325,982 shares, compared to its average volume of 6,413,648. The company has a market cap of $146.44 billion, a P/E ratio of 79.21, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 12-month low of $67.80 and a 12-month high of $107.17. The business has a 50-day simple moving average of $99.00 and a 200 day simple moving average of $94.55.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, sell-side analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BSX. Morgan Stanley boosted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Argus set a $130.00 price objective on Boston Scientific in a report on Tuesday, February 18th. Barclays upped their target price on Boston Scientific from $111.00 to $118.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price target on the stock in a research report on Friday, January 10th. Finally, Wells Fargo & Company upped their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a 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, Boston Scientific currently has a consensus rating of "Buy" and an average target price of $110.22.

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction on 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 sale, the executive vice president now owns 5,502 shares of the company's stock, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the transaction, the executive vice president now directly owns 25,443 shares of the company's stock, valued at $2,704,845.33. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,009 shares of company stock worth $14,407,381. 0.50% of the stock is owned by insiders.

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.