810 Shares in Boston Scientific Co. (NYSE:BSX) Bought by Gen Wealth Partners Inc

Gen Wealth Partners Inc purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 810 shares of the medical equipment provider’s stock, valued at approximately $72,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Parnassus Investments LLC increased its position in 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 during the period. Baldwin Investment Management LLC increased its holdings in Boston Scientific by 1.2% in the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after purchasing an additional 102 shares during the period. Evergreen Capital Management LLC raised its position in Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after purchasing an additional 106 shares during the last quarter. PDS Planning Inc lifted its holdings in Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after buying an additional 113 shares during the period. Finally, Adero Partners LLC grew its position 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 buying an additional 120 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BSX has been the subject of a number of analyst reports. Barclays raised their price objective on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Truist Financial increased their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Needham & Company LLC upped their price target on shares of Boston Scientific from $113.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Raymond James raised their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Finally, Citigroup raised their price objective on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Twenty-three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $114.52.

Boston Scientific Stock Performance

Shares of BSX opened at $102.87 on Friday. The stock’s 50-day simple moving average is $98.68 and its 200 day simple moving average is $95.99. The stock has a market capitalization of $152.19 billion, a price-to-earnings ratio of 82.30, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 52-week low of $71.88 and a 52-week 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.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Boston Scientific’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. Research analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Activity

In related news, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares of the company’s stock, valued at $157,379,150.88. This trade represents a 9.67 % 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 Boston Scientific stock in a transaction that occurred on 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 completion of the sale, the director now owns 24,398 shares of the company’s stock, valued at $2,573,501.04. This represents a 32.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 300,497 shares of company stock valued at $31,056,815. Corporate insiders own 0.50% of the company’s stock.

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.