Pines Wealth Management LLC Acquires New Stake in Boston Scientific Co. (NYSE:BSX)

Pines Wealth Management LLC acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,413 shares of the medical equipment provider's stock, valued at approximately $798,000.

Other large investors have also bought and sold shares of the company. Values First Advisors Inc. bought a new stake in Boston Scientific in the 3rd quarter worth about $28,000. Dunhill Financial LLC grew its stake in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 152 shares during the period. Global Wealth Strategies & Associates raised its holdings in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC bought a new position in Boston Scientific during the fourth quarter valued at approximately $29,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Boston Scientific during the third quarter valued at approximately $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

NYSE:BSX traded up $1.22 during trading hours on Wednesday, reaching $96.87. The stock had a trading volume of 5,328,822 shares, compared to its average volume of 5,361,261. The stock has a market capitalization of $142.77 billion, a PE ratio of 80.06, a PEG ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 52 week low of $59.61 and a 52 week high of $97.36. The company has a 50 day moving average price of $90.36 and a two-hundred day moving average price of $84.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion for the quarter, compared to analysts' expectations of $4.04 billion. During the same quarter in the previous year, the business posted $0.50 earnings per share. Boston Scientific's quarterly revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

BSX has been the subject of a number of research reports. Needham & Company LLC reiterated a "hold" rating on shares of Boston Scientific in a research note on Wednesday, November 27th. StockNews.com cut Boston Scientific from a "buy" rating to a "hold" rating in a research report on Monday, November 4th. Citigroup increased their target price on Boston Scientific from $98.00 to $107.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. BTIG Research boosted their price target on Boston Scientific from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Finally, TD Cowen increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $97.26.

Insider Activity

In other news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now owns 978 shares of the company's stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific 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 transaction, the director now directly owns 39,398 shares of the company's stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,989 shares of company stock worth $2,702,261. 0.50% of the stock is currently owned by corporate 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.