BW Gestao de Investimentos Ltda. Purchases New Holdings in Boston Scientific Co. (NYSE:BSX)

BW Gestao de Investimentos Ltda. acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 30,250 shares of the medical equipment provider’s stock, valued at approximately $2,702,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSX. World Investment Advisors LLC raised its stake in Boston Scientific by 50.9% in the third quarter. World Investment Advisors LLC now owns 11,684 shares of the medical equipment provider’s stock valued at $979,000 after purchasing an additional 3,939 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Boston Scientific in the 3rd quarter valued at approximately $1,175,000. Synovus Financial Corp lifted its holdings in shares of Boston Scientific by 7.1% during the 3rd quarter. Synovus Financial Corp now owns 17,518 shares of the medical equipment provider’s stock worth $1,468,000 after acquiring an additional 1,167 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of Boston Scientific by 36.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 15,553 shares of the medical equipment provider’s stock worth $1,303,000 after acquiring an additional 4,136 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Boston Scientific by 5.9% in the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock valued at $168,475,000 after acquiring an additional 111,724 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BSX shares. Barclays upped their target price on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Evercore ISI boosted their target price on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Citigroup raised their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. 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 research note on Thursday, February 6th. Finally, Robert W. Baird upped their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Twenty-three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and a consensus price target of $114.52.

Boston Scientific Price Performance

BSX stock opened at $104.94 on Friday. 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’s 50-day moving average is $98.59 and its 200-day moving average is $95.42. The stock has a market capitalization of $155.21 billion, a PE ratio of 83.95, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17.

Boston Scientific (NYSE:BSX) last issued 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. 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 for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the firm earned $0.56 earnings per share. Boston Scientific’s revenue for the quarter was up 20.9% on a year-over-year basis. Equities research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Activity

In related news, CFO Daniel J. Brennan sold 15,087 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the transaction, the chief financial officer now owns 241,451 shares of the company’s stock, valued at approximately $25,369,256.57. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at $3,441,592.37. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,009 shares of company stock worth $14,407,381 over the last three months. 0.50% of the stock is currently owned by insiders.

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.