Gerber Kawasaki Wealth & Investment Management Makes New $222,000 Investment in Boston Scientific Co. (NYSE:BSX)

Gerber Kawasaki Wealth & Investment Management bought a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,482 shares of the medical equipment provider's stock, valued at approximately $222,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Parnassus Investments LLC grew its holdings in shares of Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after acquiring an additional 97 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Boston Scientific by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock valued at $565,000 after acquiring an additional 106 shares in the last quarter. PDS Planning Inc grew its holdings in shares of Boston Scientific by 1.5% in the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock valued at $668,000 after acquiring an additional 113 shares in the last quarter. Adero Partners LLC grew its holdings in shares of Boston Scientific by 3.3% in the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock valued at $334,000 after acquiring an additional 120 shares in the last quarter. Finally, Tradition Wealth Management LLC grew its holdings in shares of Boston Scientific by 2.2% in the 4th quarter. Tradition Wealth Management LLC now owns 5,510 shares of the medical equipment provider's stock valued at $492,000 after acquiring an additional 121 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Insider Activity at Boston Scientific

In other news, Director Edward J. Ludwig sold 12,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the sale, the director now directly owns 24,398 shares of the company's stock, valued at approximately $2,573,501.04. This trade represents a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the sale, the chief financial officer now directly owns 225,808 shares in the company, valued at $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,009 shares of company stock valued at $14,407,381 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Up 0.8 %

NYSE BSX opened at $101.96 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 1-year low of $70.97 and a 1-year high of $107.17. The company has a 50 day moving average of $98.68 and a 200-day moving average of $94.92. The company has a market cap of $150.81 billion, a price-to-earnings ratio of 81.57, a PEG ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX - Get Free Report) last released 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 net margin of 11.07% and a return on equity of 17.80%. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. On average, equities research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BSX. Stifel Nicolaus raised their price objective on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Robert W. Baird raised their price objective on Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday. Evercore ISI lifted their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday. Truist Financial lifted their price target on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Morgan Stanley lifted their price target on Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of "Buy" and an average price target of $114.52.

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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