NewEdge Advisors LLC Grows Holdings in Boston Scientific Co. (NYSE:BSX)

NewEdge Advisors LLC boosted its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,895 shares of the medical equipment provider's stock after purchasing an additional 5,416 shares during the period. NewEdge Advisors LLC's holdings in Boston Scientific were worth $7,940,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mechanics Bank Trust Department acquired a new stake in Boston Scientific in the fourth quarter valued at $415,000. Highland Capital Management LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at about $4,887,000. Covenant Asset Management LLC bought a new position in shares of Boston Scientific during the fourth quarter worth about $3,405,000. Brookstone Capital Management lifted its stake in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock worth $9,455,000 after acquiring an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. increased its position in Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock valued at $1,744,000 after purchasing an additional 4,702 shares during the period. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

BSX has been the topic of a number of analyst reports. Citigroup upped their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Evercore ISI increased their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday. UBS Group boosted their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Raymond James raised their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a research note on Thursday, February 6th. Finally, Argus set a $130.00 price target on Boston Scientific in a research note on Tuesday, February 18th. One equities research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $112.61.

Insider Transactions at Boston Scientific

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the sale, the executive vice president now owns 28,454 shares of the company's stock, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now directly owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. The trade was a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,009 shares of company stock valued at $14,407,381 over the last three months. Company insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

BSX stock traded up $2.24 during mid-day trading on Thursday, hitting $101.16. The company had a trading volume of 3,354,388 shares, compared to its average volume of 6,391,840. Boston Scientific Co. has a 12 month low of $70.97 and a 12 month high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The stock's fifty day moving average price is $98.85 and its two-hundred day moving average price is $94.58. The firm has a market cap of $149.63 billion, a PE ratio of 80.92, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. On average, analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

About Boston Scientific

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.