Sagespring Wealth Partners LLC Buys New Shares in Boston Scientific Co. (NYSE:BSX)

Sagespring Wealth Partners LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,175 shares of the medical equipment provider's stock, valued at approximately $909,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Parnassus Investments LLC boosted its stake in Boston Scientific by 0.7% in the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after acquiring an additional 97 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of Boston Scientific by 1.5% in the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock worth $668,000 after acquiring an additional 113 shares during the period. Adero Partners LLC raised its stake in shares of Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock valued at $334,000 after purchasing an additional 120 shares during the period. Grove Bank & Trust raised its position in Boston Scientific by 4.4% in the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider's stock worth $261,000 after purchasing an additional 122 shares during the period. Finally, PFG Investments LLC increased its holdings in shares of Boston Scientific by 1.6% in the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider's stock worth $725,000 after buying an additional 125 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Raymond James upped their target price on Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a report on Thursday, February 6th. Truist Financial dropped their target price on shares of Boston Scientific from $120.00 to $113.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company raised their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Finally, Needham & Company LLC raised Boston Scientific from a "hold" rating to a "buy" rating and set a $113.00 target price for the company in a research report on Wednesday. One equities 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 stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $110.22.

Insider Buying and Selling at Boston Scientific

In related news, EVP John Bradley Sorenson sold 6,528 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the sale, the executive vice president now owns 26,449 shares in the company, valued at approximately $2,776,351.53. The trade was a 19.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were 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 in the company, valued at $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,183 shares of company stock valued at $13,948,476 in the last 90 days. Insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

Shares of BSX traded down $0.17 during trading hours on Friday, reaching $95.08. 6,672,959 shares of the stock traded hands, compared to its average volume of 6,370,413. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week 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 company has a market cap of $140.63 billion, a P/E ratio of 76.06, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The company's 50-day moving average price is $99.68 and its two-hundred day moving average price is $94.26.

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

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.