Freestone Grove Partners LP Takes Position in Boston Scientific Co. (NYSE:BSX)

Freestone Grove Partners LP acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 298,953 shares of the medical equipment provider's stock, valued at approximately $26,702,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mechanics Bank Trust Department purchased a new position in shares of Boston Scientific in the fourth quarter worth about $415,000. Highland Capital Management LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at about $4,887,000. Covenant Asset Management LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $3,405,000. Brookstone Capital Management grew its stake in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock worth $9,455,000 after purchasing an additional 20,307 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. increased its holdings in Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock valued at $1,744,000 after purchasing an additional 4,702 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Argus set a $130.00 target price on Boston Scientific in a research note on Tuesday, February 18th. Wells Fargo & Company raised their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Robert W. Baird boosted their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Piper Sandler lifted their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada increased their target price on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Twenty-three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $114.52.

Insiders Place Their Bets

In related news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 6,528 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $104.97, for a total value of $685,244.16. Following the completion of the sale, the executive vice president now owns 26,449 shares of the company's stock, valued at approximately $2,776,351.53. The trade was a 19.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 302,453 shares of company stock valued at $31,264,103. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

NYSE BSX traded down $0.02 during trading hours on Tuesday, hitting $104.22. The company's stock had a trading volume of 5,167,037 shares, compared to its average volume of 6,331,655. The company's 50 day simple moving average is $98.64 and its two-hundred day simple moving average is $95.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The company has a market cap of $154.15 billion, a P/E ratio of 83.38, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm's quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the company posted $0.56 earnings per share. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal 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.