44 Wealth Management LLC Invests $255,000 in Boston Scientific Corporation (NYSE:BSX)

44 Wealth Management LLC purchased a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,532 shares of the medical equipment provider's stock, valued at approximately $255,000.

A number of other large investors have also recently bought and sold shares of BSX. Investment Management Corp VA ADV acquired a new stake in shares of Boston Scientific in the fourth quarter valued at $25,000. Colonial Trust Co SC increased its stake in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 260 shares in the last quarter. Sunbeam Capital Management LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at $26,000. Ameriflex Group Inc. acquired a new stake in shares of Boston Scientific in the fourth quarter valued at $31,000. Finally, Fairway Wealth LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at $36,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BSX. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Barclays raised their target price on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Leerink Partners initiated coverage on Boston Scientific in a research note on Monday, June 16th. They issued an "outperform" rating and a $118.00 target price for the company. Citigroup reaffirmed a "buy" rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Finally, Truist Financial upped their price target on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Twenty-two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $116.09.

Boston Scientific Trading Up 0.6%

NYSE:BSX traded up $0.67 during mid-day trading on Friday, hitting $104.30. The company had a trading volume of 2,931,148 shares, compared to its average volume of 6,666,246. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.53. The business's fifty day moving average is $103.42 and its two-hundred day moving average is $100.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The firm has a market cap of $154.30 billion, a P/E ratio of 76.13, a P/E/G ratio of 2.71 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The company's quarterly revenue was up 20.9% on a year-over-year basis. As a group, research analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the sale, the chief executive officer owned 1,476,882 shares of the company's stock, valued at $153,137,894.58. This trade represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president directly owned 36,193 shares in the company, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 461,970 shares of company stock valued at $47,755,193. Corporate insiders own 0.50% of the company's stock.

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.