Venturi Wealth Management LLC Acquires 5,821 Shares of Boston Scientific Co. (NYSE:BSX)

Venturi Wealth Management LLC grew its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 323.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,620 shares of the medical equipment provider's stock after acquiring an additional 5,821 shares during the quarter. Venturi Wealth Management LLC's holdings in Boston Scientific were worth $681,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BSX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Boston Scientific by 9.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider's stock worth $115,000 after purchasing an additional 119 shares during the period. Adero Partners LLC raised its holdings in Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock worth $334,000 after buying an additional 120 shares during the period. Grove Bank & Trust lifted its stake in Boston Scientific by 4.4% in the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider's stock valued at $261,000 after buying an additional 122 shares in the last quarter. PFG Investments LLC boosted 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 valued at $725,000 after buying an additional 125 shares during the period. Finally, Stonegate Investment Group LLC increased its position in shares of Boston Scientific by 1.6% during the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider's stock worth $699,000 after acquiring an additional 126 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

BSX traded down $0.87 during trading on Friday, hitting $104.49. The stock had a trading volume of 2,826,559 shares, compared to its average volume of 5,942,761. The company has a 50 day moving average price of $97.69 and a 200-day moving average price of $89.06. The firm has a market cap of $154.21 billion, a price-to-earnings ratio of 83.44, a P/E/G ratio of 2.79 and a beta of 0.80. 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 one year low of $65.52 and a one year high of $107.17.

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 for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Insider Activity

In related news, EVP Arthur C. Butcher sold 17,313 shares of the company's 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 completion of the sale, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This represents a 75.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel J. Brennan sold 67,333 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the sale, the chief financial officer now owns 225,808 shares of the company's stock, valued at approximately $23,764,033.92. This represents a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 153,640 shares of company stock worth $15,718,289. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BSX has been the subject of a number of research analyst reports. TD Cowen upped their target price 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. Royal Bank of Canada increased their price target on Boston Scientific from $105.00 to $116.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Canaccord Genuity Group boosted their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Stifel Nicolaus raised their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, UBS Group boosted their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $107.39.

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.