Barrett & Company Inc. Acquires New Position in Boston Scientific Co. (NYSE:BSX)

Barrett & Company Inc. purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,242 shares of the medical equipment provider’s stock, valued at approximately $379,000.

Other institutional investors have also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after acquiring an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department bought a new position in shares of Boston Scientific in the 4th quarter worth approximately $415,000. Highland Capital Management LLC bought a new position in shares of Boston Scientific in the 4th quarter worth approximately $4,887,000. Brookstone Capital Management lifted its stake in shares of Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after purchasing an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. lifted its stake in shares of Boston Scientific by 31.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after purchasing an additional 4,702 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,302 shares of company stock valued at $4,464,725. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BSX has been the topic of several recent research reports. Truist Financial increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Citigroup increased their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James increased their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Friday, January 10th. Finally, TD Cowen raised their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Buy” and an average price target of $104.26.

Boston Scientific Trading Up 0.0 %

BSX stock opened at $105.01 on Friday. The firm has a fifty day moving average price of $94.58 and a 200 day moving average price of $86.96. Boston Scientific Co. has a fifty-two week low of $64.39 and a fifty-two week high of $107.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The firm has a market cap of $154.76 billion, a PE ratio of 86.78, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Sell-side analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal 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.