Boston Scientific Co. (NYSE:BSX) Position Raised by Summit Financial LLC

Summit Financial LLC raised its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 13.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,483 shares of the medical equipment provider's stock after buying an additional 3,428 shares during the period. Summit Financial LLC's holdings in Boston Scientific were worth $2,633,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BSX. D.A. Davidson & CO. grew its stake in Boston Scientific by 3.2% during the 3rd quarter. D.A. Davidson & CO. now owns 10,945 shares of the medical equipment provider's stock worth $917,000 after purchasing an additional 342 shares in the last quarter. Glenmede Trust Co. NA grew its position in shares of Boston Scientific by 19.0% during the third quarter. Glenmede Trust Co. NA now owns 20,463 shares of the medical equipment provider's stock worth $1,715,000 after buying an additional 3,261 shares in the last quarter. CreativeOne Wealth LLC increased its stake in shares of Boston Scientific by 62.0% during the third quarter. CreativeOne Wealth LLC now owns 4,478 shares of the medical equipment provider's stock worth $375,000 after buying an additional 1,714 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Boston Scientific by 10.6% in the third quarter. Rockefeller Capital Management L.P. now owns 137,964 shares of the medical equipment provider's stock valued at $11,536,000 after acquiring an additional 13,268 shares in the last quarter. Finally, Icon Wealth Advisors LLC purchased a new position in Boston Scientific in the third quarter worth approximately $100,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Remove Ads

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 1,201 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares of the company's stock, valued at $2,704,845.33. This represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,183 shares of company stock valued at $13,948,476. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 8.9 %

Shares of NYSE:BSX traded down $8.73 during mid-day trading on Friday, hitting $89.78. 22,572,180 shares of the company traded hands, compared to its average volume of 6,188,157. The firm has a market cap of $132.78 billion, a P/E ratio of 71.82, a PEG ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week high of $107.17. The firm's 50 day simple moving average is $101.90 and its 200 day simple moving average is $93.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping 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%. On average, equities analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BSX. Canaccord Genuity Group lifted their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. TD Cowen upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Royal Bank of Canada increased their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Raymond James upped their price target on Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a report on Thursday, February 6th. Finally, Truist Financial increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.