Cary Street Partners Financial LLC Invests $1.50 Million in Boston Scientific Co. (NYSE:BSX)

Cary Street Partners Financial 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,752 shares of the medical equipment provider's stock, valued at approximately $1,496,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Boston Scientific by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock valued at $11,869,805,000 after acquiring an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP lifted its position in Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after acquiring an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC lifted its position in Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock worth $2,729,371,000 after acquiring an additional 1,041,329 shares during the last quarter. Capital World Investors raised its position in shares of Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after buying an additional 6,216,199 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $1,762,522,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 1,201 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 25,443 shares in the company, valued at $2,704,845.33. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel J. Brennan sold 67,333 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the sale, the chief financial officer now directly owns 225,808 shares of the company's stock, valued at approximately $23,764,033.92. This trade represents a 22.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,497 shares of company stock valued at $29,791,055 over the last 90 days. 0.50% of the stock is owned by insiders.

Boston Scientific Price Performance

Shares of NYSE:BSX traded up $0.22 during midday trading on Tuesday, reaching $103.09. 2,857,984 shares of the company were exchanged, compared to its average volume of 6,333,320. Boston Scientific Co. has a one year low of $71.88 and a one year 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 business's fifty day moving average is $98.64 and its two-hundred day moving average is $96.19. The stock has a market cap of $152.52 billion, a PE ratio of 82.47, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

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

Wall Street Analyst Weigh In

BSX has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Robert W. Baird upped 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. Wells Fargo & Company upped their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Finally, Truist Financial increased their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Twenty-three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $114.52.

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.