Arkadios Wealth Advisors Purchases New Shares in Boston Scientific Corporation (NYSE:BSX)

Key Points

• Arkadios Wealth Advisors acquired a new stake in Boston Scientific Corporation by purchasing 19,134 shares valued at approximately $1,930,000 during the first quarter.
• Insider transactions revealed significant stock sales, with EVP John Bradley Sorenson selling 4,572 shares and Director Edward J. Ludwig selling 4,000 shares, both resulting in notable decreases in their ownership percentages.
• Analysts remain optimistic, with Boston Scientific receiving a consensus rating of "Buy" and a target price ranging from $115.00 to $133.00 from various brokerages.

Arkadios Wealth Advisors purchased a new stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,134 shares of the medical equipment provider's stock, valued at approximately $1,930,000.

Several other hedge funds also recently made changes to their positions in the company. Colonial Trust Co SC raised its stake in Boston Scientific by 1,625.0% during 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 during the last quarter. Investment Management Corp VA ADV bought a new stake in shares of Boston Scientific during the 4th quarter valued at about $25,000. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific during the 4th quarter valued at about $26,000. Ameriflex Group Inc. bought a new stake in shares of Boston Scientific during the 4th quarter valued at about $31,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Boston Scientific during the 4th quarter valued at about $36,000. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president directly owned 18,705 shares in the company, valued at approximately $1,955,420.70. This represents a 19.64% 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, Director Edward J. Ludwig sold 4,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $106.03, for a total value of $424,120.00. Following the completion of the transaction, the director owned 18,479 shares in the company, valued at $1,959,328.37. This represents a 17.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 282,288 shares of company stock worth $29,411,601. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BSX. Needham & Company LLC restated a "buy" rating and issued a $115.00 price target on shares of Boston Scientific in a research report on Wednesday, May 28th. Leerink Partners began coverage on Boston Scientific in a research report on Monday, June 16th. They issued an "outperform" rating and a $118.00 price target for the company. Royal Bank Of Canada restated an "outperform" rating on shares of Boston Scientific in a research report on Thursday, July 24th. Barclays upped their price target on Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific has a consensus rating of "Buy" and a consensus target price of $117.50.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $104.87 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $108.94. The business has a 50-day moving average price of $103.61 and a 200 day moving average price of $101.80. The firm has a market cap of $155.15 billion, a PE ratio of 62.42, a P/E/G ratio of 2.57 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS. Sell-side analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Boston Scientific Company 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.

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