Raleigh Capital Management Inc. Purchases 449 Shares of Boston Scientific Co. (NYSE:BSX)

Raleigh Capital Management Inc. increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,809 shares of the medical equipment provider’s stock after purchasing an additional 449 shares during the period. Raleigh Capital Management Inc.’s holdings in Boston Scientific were worth $519,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BSX. CRA Financial Services LLC increased its holdings in Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Boston Scientific by 9.7% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 119 shares in the last quarter. Grove Bank & Trust grew its position in Boston Scientific by 4.4% in the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock valued at $261,000 after acquiring an additional 122 shares during the period. Adero Partners LLC raised its stake in Boston Scientific by 3.6% during the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock worth $303,000 after acquiring an additional 127 shares in the last quarter. Finally, Ashton Thomas Securities LLC lifted its holdings in shares of Boston Scientific by 1.3% during the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after acquiring an additional 129 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of BSX stock opened at $100.29 on Thursday. The firm has a market capitalization of $147.81 billion, a price-to-earnings ratio of 82.88, a price-to-earnings-growth ratio of 2.64 and a beta of 0.80. Boston Scientific Co. has a 12-month low of $59.85 and a 12-month high of $101.65. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average of $91.68 and a 200-day moving average of $85.04.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the firm posted $0.50 earnings per share. Boston Scientific’s revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on BSX. Truist Financial upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. TD Cowen lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Sanford C. Bernstein increased their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.26.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the sale, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. This represents a 19.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is owned by corporate 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.