Caliber Wealth Management LLC KS Takes $687,000 Position in Boston Scientific Corporation (NYSE:BSX)

Key Points

• Caliber Wealth Management LLC KS invested approximately $687,000 in Boston Scientific Corporation, acquiring 6,809 shares during the first quarter of the year.
• Boston Scientific's stock was trading at $106.07 per share and analysts predict it will post $2.85 EPS for the current year, showing ongoing positive financial momentum.
• Institutional investors own 89.07% of Boston Scientific's stock, indicating strong institutional support for the company.

Caliber Wealth Management LLC KS purchased a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,809 shares of the medical equipment provider's stock, valued at approximately $687,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Colonial Trust Co SC increased its stake in Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 260 shares in the last quarter. Investment Management Corp VA ADV bought a new position in shares of Boston Scientific during the 4th quarter worth approximately $25,000. Sunbeam Capital Management LLC bought a new position in shares of Boston Scientific during the 4th quarter worth approximately $26,000. Ameriflex Group Inc. bought a new position in shares of Boston Scientific during the 4th quarter worth approximately $31,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Boston Scientific during the 4th quarter worth approximately $36,000. 89.07% of the stock is owned by institutional investors.

Insider Transactions at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the transaction, the chief executive officer owned 1,476,882 shares in the company, valued at $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward J. Ludwig sold 4,000 shares of Boston Scientific stock in a transaction dated 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 approximately $1,959,328.37. This represents a 17.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 461,144 shares of company stock valued at $47,720,408. Company insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BSX shares. UBS Group raised their price target on shares of Boston Scientific from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Wells Fargo & Company increased their price objective on Boston Scientific from $118.00 to $124.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Citigroup reissued a "buy" rating and issued a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating on shares of Boston Scientific in a report on Thursday, July 24th. Finally, BTIG Research reaffirmed a "buy" rating and set a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Two 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. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $117.50.

Boston Scientific Price Performance

Shares of NYSE BSX traded up $0.17 during mid-day trading on Wednesday, reaching $106.64. The company had a trading volume of 1,787,155 shares, compared to its average volume of 7,686,561. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. Boston Scientific Corporation has a one year low of $71.88 and a one year high of $108.94. The firm has a market cap of $157.77 billion, a price-to-earnings ratio of 63.48, a PEG ratio of 2.55 and a beta of 0.68. The business's 50-day simple moving average is $103.56 and its 200 day simple moving average is $101.69.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter last year, the business earned $0.62 earnings per share. Boston Scientific's revenue was up 22.8% on a year-over-year basis. On average, research 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.