38,120 Shares in Boston Scientific Co. (NYSE:BSX) Purchased by Covenant Asset Management LLC

Covenant Asset Management LLC acquired a new stake in Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 38,120 shares of the medical equipment provider’s stock, valued at approximately $3,405,000.

Several other institutional investors have also recently made changes to their positions in BSX. Bank Pictet & Cie Europe AG lifted its holdings in Boston Scientific by 40.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock valued at $6,529,000 after buying an additional 21,173 shares in the last quarter. Pictet North America Advisors SA raised its holdings in Boston Scientific by 2.4% in the fourth quarter. Pictet North America Advisors SA now owns 78,127 shares of the medical equipment provider’s stock worth $6,978,000 after purchasing an additional 1,837 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its stake in Boston Scientific by 74.3% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 5,402 shares of the medical equipment provider’s stock valued at $483,000 after acquiring an additional 2,302 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in shares of Boston Scientific by 2.2% in the 4th quarter. Catalyst Financial Partners LLC now owns 7,127 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 154 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Boston Scientific by 8.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 696,124 shares of the medical equipment provider’s stock worth $63,090,000 after acquiring an additional 53,471 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BSX shares. Barclays boosted their price target on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Friday, January 10th. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus raised their target price on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific has an average rating of “Buy” and a consensus target price of $107.39.

Insider Activity at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now owns 39,398 shares in the company, valued at $3,610,038.74. The trade was a 11.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,326 shares of company stock worth $8,673,948. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Performance

Boston Scientific stock opened at $106.20 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 12 month low of $65.33 and a 12 month high of $107.17. The company has a market cap of $156.51 billion, a price-to-earnings ratio of 84.96, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The stock’s 50-day moving average is $96.11 and its 200-day moving average is $87.97.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. Equities analysts anticipate that Boston Scientific Co. will post 2.83 earnings per share for the current year.

Boston Scientific 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.