Parr Mcknight Wealth Management Group LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 23,945 shares of the medical equipment provider's stock, valued at approximately $2,139,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Boston Scientific by 1.2% during 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 buying an additional 1,600,062 shares during the period. Wellington Management Group LLP grew its holdings in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after purchasing an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC grew its position in Boston Scientific by 3.5% in 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 in the last quarter. Capital World Investors increased its position in shares of Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Boston Scientific by 2.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock worth $1,992,994,000 after acquiring an additional 554,388 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BSX. Needham & Company LLC boosted their price target on Boston Scientific from $113.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Barclays increased 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. Royal Bank of Canada raised their target price on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Piper Sandler raised their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Argus set a $130.00 target price on shares of Boston Scientific in a report on Tuesday, February 18th. Twenty-three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $114.87.

Boston Scientific Stock Performance

NYSE BSX traded down $0.01 during trading on Monday, reaching $104.49. 5,205,948 shares of the company's stock were exchanged, compared to its average volume of 6,393,997. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The business has a 50 day moving average price of $99.97 and a 200-day moving average price of $97.44. The stock has a market capitalization of $154.59 billion, a P/E ratio of 83.59, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter in the prior year, the business earned $0.56 EPS. The firm's revenue for the quarter was up 20.9% on a year-over-year basis. Sell-side analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the transaction, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. This represents a 11.77% 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, EVP Arthur C. Butcher sold 17,314 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president now directly owns 22,235 shares of the company's stock, valued at $2,269,304.10. This represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,155 shares of company stock worth $19,556,047 in the last ninety days. 0.50% of the stock is owned by company insiders.

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.