Boston Scientific Co. (NYSE:BSX) Shares Purchased by Focus Partners Wealth

Focus Partners Wealth grew its position in shares of Boston Scientific Co. (NYSE:BSX) by 156.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 379,253 shares of the medical equipment provider’s stock after acquiring an additional 231,371 shares during the quarter. Focus Partners Wealth’s holdings in Boston Scientific were worth $33,881,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Fullerton Fund Management Co Ltd. grew its position in Boston Scientific by 52.3% in the 4th quarter. Fullerton Fund Management Co Ltd. now owns 1,553,156 shares of the medical equipment provider’s stock worth $138,728,000 after purchasing an additional 533,346 shares during the last quarter. Ellevest Inc. grew its holdings in Boston Scientific by 4.9% in the 4th quarter. Ellevest Inc. now owns 13,923 shares of the medical equipment provider’s stock worth $1,244,000 after buying an additional 650 shares in the last quarter. Ethic Inc. increased its position in Boston Scientific by 24.1% in the 4th quarter. Ethic Inc. now owns 241,929 shares of the medical equipment provider’s stock valued at $21,609,000 after acquiring an additional 46,946 shares during the period. Fullcircle Wealth LLC bought a new stake in Boston Scientific during the 4th quarter valued at $207,000. Finally, Clark Capital Management Group Inc. boosted its position in Boston Scientific by 9.5% during the 4th quarter. Clark Capital Management Group Inc. now owns 4,639 shares of the medical equipment provider’s stock worth $414,000 after acquiring an additional 404 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Activity

In related news, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This represents a 19.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward J. Ludwig sold 12,000 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 trade represents a 32.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 300,497 shares of company stock worth $31,056,815 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $102.87 on Friday. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock has a market cap of $152.19 billion, a PE ratio of 82.30, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The business has a fifty day simple moving average of $98.68 and a 200-day simple moving average of $95.99.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The firm 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%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the company posted $0.56 EPS. On average, sell-side analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BSX shares. Barclays lifted their price objective 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. Needham & Company LLC upped their price target on shares of Boston Scientific from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. UBS Group raised their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Piper Sandler upped their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, BTIG Research reiterated a “buy” rating and set a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Twenty-three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $114.52.

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.