Cyndeo Wealth Partners LLC boosted its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 11.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,284 shares of the medical equipment provider's stock after purchasing an additional 4,383 shares during the period. Cyndeo Wealth Partners LLC's holdings in Boston Scientific were worth $4,366,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in BSX. Colonial Trust Co SC grew its holdings in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 260 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in Boston Scientific during the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC bought a new position in Boston Scientific in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $31,000. Finally, Fairway Wealth LLC bought a new stake in shares of Boston Scientific during the 4th quarter worth approximately $36,000. Institutional investors own 89.07% of the company's stock.
Insider Activity at Boston Scientific
In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of Boston Scientific stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the transaction, the executive vice president now directly owns 178,342 shares of the company's stock, valued at approximately $18,347,824.96. The trade was a 24.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the sale, the chief executive officer now directly owns 1,535,706 shares of the company's stock, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,970 shares of company stock worth $42,406,693 in the last quarter. 0.50% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research firms have recently commented on BSX. Royal Bank of Canada increased their price objective on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. BTIG Research reiterated a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Evercore ISI boosted their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Barclays upped their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Twenty-two investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $116.09.
Read Our Latest Stock Report on BSX
Boston Scientific Price Performance
Shares of NYSE:BSX traded up $1.75 during trading on Monday, reaching $101.49. 9,286,502 shares of the company traded hands, compared to its average volume of 6,585,279. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company's 50 day moving average is $101.03 and its two-hundred day moving average is $98.79. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $150.15 billion, a PE ratio of 81.19, a PEG ratio of 2.79 and a beta of 0.68.
Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Boston Scientific's revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 EPS. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.
About Boston Scientific
(
Free Report)
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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