Ellevest Inc. Increases Stake in Boston Scientific Co. (NYSE:BSX)

Ellevest Inc. grew its stake in Boston Scientific Co. (NYSE:BSX) by 4.9% during the 4th quarter, HoldingsChannel reports. The firm owned 13,923 shares of the medical equipment provider’s stock after buying an additional 650 shares during the quarter. Ellevest Inc.’s holdings in Boston Scientific were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in BSX. TFC Financial Management Inc. boosted its holdings 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. Colonial Trust Co SC boosted its stake in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 260 shares in the last quarter. West Oak Capital LLC acquired a new stake in shares of Boston Scientific during the 4th quarter valued at about $29,000. Valley National Advisers Inc. grew its position in shares of Boston Scientific by 262.4% during the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 286 shares during the period. Finally, Fairway Wealth LLC purchased a new position in shares of Boston Scientific in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other news, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig sold 12,000 shares of the business’s 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 owns 24,398 shares in the company, valued at $2,573,501.04. This trade represents a 32.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 300,497 shares of company stock worth $31,056,815. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the topic of several research analyst reports. Citigroup raised their price objective on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Friday, January 10th. Wells Fargo & Company increased their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Evercore ISI boosted their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Barclays raised their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Twenty-three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $114.52.

Boston Scientific Price Performance

Shares of BSX stock opened at $103.32 on Friday. The firm’s 50-day moving average is $98.70 and its two-hundred day moving average is $95.83. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.17. 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 company has a market capitalization of $152.86 billion, a PE ratio of 82.66, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last issued 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. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the business posted $0.56 earnings per share. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.