Silvercrest Asset Management Group LLC Grows Stock Position in Boston Scientific Co. (NYSE:BSX)

Silvercrest Asset Management Group LLC lifted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 6.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 68,295 shares of the medical equipment provider’s stock after acquiring an additional 4,095 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Boston Scientific were worth $6,100,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Colonial Trust Co SC grew its position in 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 purchasing an additional 260 shares during the last quarter. TFC Financial Management Inc. lifted its stake in shares of 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 during the period. Valley National Advisers Inc. grew its holdings in shares of Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 286 shares during the last quarter. Fairway Wealth LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $36,000. Finally, Global Trust Asset Management LLC raised its stake in Boston Scientific by 64.5% in the 4th quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 1.1%

Shares of NYSE:BSX opened at $106.00 on Monday. The business’s 50 day moving average price is $99.18 and its 200-day moving average price is $96.74. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17. The firm has a market capitalization of $156.83 billion, a price-to-earnings ratio of 84.80, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

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

Analysts Set New Price Targets

Several research firms have weighed in on BSX. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. UBS Group upped their target price on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley lifted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Needham & Company LLC increased their price objective 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. Twenty-three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and an average target price of $114.74.

Insiders Place Their Bets

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific 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 in the company, valued at approximately $157,379,150.88. This trade represents a 9.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 265,820 shares of company stock worth $27,406,958. Corporate insiders own 0.50% of the company’s stock.

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.