HB Wealth Management LLC Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

HB Wealth Management LLC grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,036 shares of the medical equipment provider’s stock after purchasing an additional 1,676 shares during the quarter. HB Wealth Management LLC’s holdings in Boston Scientific were worth $2,683,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BSX. Global Wealth Strategies & Associates raised 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 valued at $28,000 after acquiring an additional 250 shares in the last quarter. West Oak Capital LLC bought a new position in Boston Scientific in the fourth quarter worth about $29,000. Dunhill Financial LLC raised its holdings in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares in the last quarter. Values First Advisors Inc. bought a new position in Boston Scientific in the third quarter worth about $28,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Boston Scientific during the third quarter valued at about $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,989 shares of company stock valued at $2,702,261. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BSX shares. Sanford C. Bernstein upped their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their price objective on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Morgan Stanley increased their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Evercore ISI increased their target price on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company increased their price objective on Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.26.

Boston Scientific Price Performance

Shares of BSX opened at $98.73 on Monday. The firm has a market cap of $145.52 billion, a price-to-earnings ratio of 81.60, a PEG ratio of 2.48 and a beta of 0.80. The stock has a 50 day moving average of $91.00 and a 200-day moving average of $84.54. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 52 week low of $59.85 and a 52 week high of $99.14.

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

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.