Breakwater Capital Group Has $424,000 Stock Position in Boston Scientific Co. (NYSE:BSX)

Breakwater Capital Group increased its stake in Boston Scientific Co. (NYSE:BSX) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,986 shares of the medical equipment provider’s stock after acquiring an additional 537 shares during the quarter. Breakwater Capital Group’s holdings in Boston Scientific were worth $424,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new position in shares of Boston Scientific in the fourth quarter worth approximately $28,000. Venturi Wealth Management LLC lifted its stake in Boston Scientific by 58.0% in the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 215 shares during the period. Coppell Advisory Solutions LLC acquired a new position in Boston Scientific in the second quarter valued at approximately $34,000. Motco lifted its stake in Boston Scientific by 136.3% in the third quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 372 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in Boston Scientific in the first quarter valued at approximately $32,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

NYSE:BSX traded up $0.61 during trading on Friday, reaching $68.36. The company’s stock had a trading volume of 394,313 shares, compared to its average volume of 6,375,818. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The firm has a market cap of $100.29 billion, a price-to-earnings ratio of 63.31, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $69.20. The firm has a 50 day moving average of $66.28 and a 200-day moving average of $58.70.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter in the prior year, the company earned $0.45 EPS. Research analysts expect that Boston Scientific Co. will post 2.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Royal Bank of Canada upped their target price on Boston Scientific from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Evercore ISI upped their target price on Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. Argus upped their target price on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Oppenheimer upped their target price on Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average target price of $68.14.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,811 shares of company stock valued at $5,017,070. Corporate insiders own 0.50% of the company’s stock.

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.