Kane Investment Management Inc. Takes $719,000 Position in Boston Scientific Co. (NYSE:BSX)

Kane Investment Management Inc. acquired a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,054 shares of the medical equipment provider's stock, valued at approximately $719,000.

Several other institutional investors have also recently modified their holdings of the stock. TFC Financial Management Inc. increased its position in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after buying an additional 210 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. West Oak Capital LLC purchased a new stake in Boston Scientific during the 4th quarter worth about $29,000. Valley National Advisers Inc. raised its stake in Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 286 shares during the last quarter. Finally, Fairway Wealth LLC purchased a new position in Boston Scientific in the 4th quarter valued at about $36,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Down 0.2 %

Shares of NYSE BSX traded down $0.17 on Friday, hitting $95.08. The company had a trading volume of 6,672,959 shares, compared to its average volume of 6,369,721. The firm has a market capitalization of $140.63 billion, a P/E ratio of 76.06, a PEG ratio of 2.79 and a beta of 0.73. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17. The business has a 50 day moving average of $99.46 and a two-hundred day moving average of $94.41.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares of the company's stock, valued at $560,103.60. This represents a 75.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 6,528 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the completion of the sale, the executive vice president now directly owns 26,449 shares in the company, valued at $2,776,351.53. This represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,183 shares of company stock valued at $13,948,476 in the last ninety days. Insiders own 0.50% of the company's stock.

Analyst Ratings Changes

BSX has been the subject of a number of recent research reports. Argus set a $130.00 price target on shares of Boston Scientific in a report on Tuesday, February 18th. Morgan Stanley boosted their price target on Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price target on the stock in a research note on Friday, January 10th. Stifel Nicolaus lifted their price objective on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, UBS Group increased their target price on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $110.22.

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.