MGB Wealth Management LLC Raises Stock Position in Boston Scientific Co. (NYSE:BSX)

MGB Wealth Management LLC raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,073 shares of the medical equipment provider’s stock after purchasing an additional 262 shares during the period. MGB Wealth Management LLC’s holdings in Boston Scientific were worth $633,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its stake in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after buying an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Boston Scientific by 2.2% during the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after acquiring an additional 718,515 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Boston Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after acquiring an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Boston Scientific by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after acquiring an additional 64,720 shares during the last quarter. Finally, Impax Asset Management Group plc increased its position in shares of Boston Scientific by 17.5% during the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after purchasing an additional 815,403 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the transaction, the executive vice president now owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares in the company, 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 quarter, insiders have sold 65,830 shares of company stock valued at $6,415,729. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Performance

NYSE:BSX opened at $105.80 on Thursday. Boston Scientific Co. has a 12 month low of $64.54 and a 12 month high of $107.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a market capitalization of $155.93 billion, a PE ratio of 84.64, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The business’s fifty day moving average price is $95.50 and its 200 day moving average price is $87.72.

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

Wall Street Analyst Weigh In

A number of research firms have commented on BSX. TD Cowen increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Raymond James lifted their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Truist Financial increased their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Morgan Stanley boosted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. One 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. According to data from MarketBeat, Boston Scientific presently has a consensus rating of “Buy” and a consensus target price of $107.39.

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.