Verdence Capital Advisors LLC Acquires 13,167 Shares of Boston Scientific Corporation $BSX

Verdence Capital Advisors LLC raised its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 386.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,578 shares of the medical equipment provider’s stock after buying an additional 13,167 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Boston Scientific were worth $1,698,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock worth $2,445,000 after purchasing an additional 226 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Boston Scientific by 8.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 13,079 shares of the medical equipment provider’s stock worth $1,405,000 after buying an additional 1,017 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Boston Scientific by 7.6% in the 2nd quarter. Park Avenue Securities LLC now owns 49,581 shares of the medical equipment provider’s stock worth $5,325,000 after buying an additional 3,499 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of Boston Scientific by 7.8% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 4,529 shares of the medical equipment provider’s stock valued at $486,000 after buying an additional 326 shares in the last quarter. Finally, CRA Financial Services LLC raised its position in shares of Boston Scientific by 8.0% during the 2nd quarter. CRA Financial Services LLC now owns 3,769 shares of the medical equipment provider’s stock valued at $405,000 after buying an additional 278 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, December 1st. The shares were sold at an average price of $101.55, for a total value of $1,758,135.15. Following the transaction, the executive vice president directly owned 23,600 shares of the company’s stock, valued at $2,396,580. The trade was a 42.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the sale, the executive vice president directly owned 178,342 shares of the company’s stock, valued at $17,739,678.74. The trade was a 21.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 93,095 shares of company stock worth $9,305,450. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays increased their target price on Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. UBS Group reiterated a “buy” rating on shares of Boston Scientific in a report on Wednesday, December 17th. Citigroup reissued a “buy” rating on shares of Boston Scientific in a report on Wednesday, January 14th. Robert W. Baird boosted their target price on Boston Scientific from $123.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $132.00 target price on shares of Boston Scientific in a research note on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $123.89.

Boston Scientific Trading Up 3.5%

Shares of BSX stock opened at $91.16 on Wednesday. The business has a 50-day moving average of $96.42 and a 200 day moving average of $100.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96. Boston Scientific Corporation has a 1-year low of $85.98 and a 1-year high of $109.50. The stock has a market capitalization of $135.14 billion, a PE ratio of 48.75, a P/E/G ratio of 1.56 and a beta of 0.67.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. As a group, sell-side analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.