Modern Wealth Management LLC Makes New Investment in Boston Scientific Co. (NYSE:BSX)

Modern Wealth Management LLC acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 3,011 shares of the medical equipment provider’s stock, valued at approximately $269,000.

Other hedge funds also recently made changes to their positions in the company. TFC Financial Management Inc. lifted its holdings 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 valued at $25,000 after purchasing an additional 210 shares during the last quarter. Dunhill Financial LLC lifted its stake in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 152 shares in the last quarter. Global Wealth Strategies & Associates boosted its holdings in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the period. West Oak Capital LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth approximately $29,000. Finally, Valley National Advisers Inc. raised 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 acquiring an additional 286 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In related news, CFO Daniel J. Brennan sold 15,087 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the transaction, the chief financial officer now directly owns 241,451 shares in the company, valued at $25,369,256.57. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the sale, the executive vice president now owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,302 shares of company stock valued at $14,319,269. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BSX. JPMorgan Chase & Co. lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Royal Bank of Canada upped their target price on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a report on Friday, January 10th. Finally, TD Cowen lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $99.29 on Friday. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The company has a market cap of $146.86 billion, a P/E ratio of 79.43, a P/E/G ratio of 2.79 and a beta of 0.77. The business’s 50 day moving average is $102.16 and its two-hundred day moving average is $93.04. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, equities analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

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.