Brooklyn FI LLC Acquires New Position in Boston Scientific Co. (NYSE:BSX)

Brooklyn FI LLC acquired a new stake in Boston Scientific Co. (NYSE:BSX) in the fourth quarter, Holdings Channel.com reports. The fund acquired 7,296 shares of the medical equipment provider’s stock, valued at approximately $642,000.

A number of other hedge funds have also recently modified their holdings of BSX. OneDigital Investment Advisors LLC grew its holdings in shares of Boston Scientific by 3.2% in the third quarter. OneDigital Investment Advisors LLC now owns 10,177 shares of the medical equipment provider’s stock valued at $853,000 after purchasing an additional 311 shares during the period. Empowered Funds LLC grew its holdings in shares of Boston Scientific by 7.9% in the third quarter. Empowered Funds LLC now owns 23,413 shares of the medical equipment provider’s stock valued at $1,962,000 after purchasing an additional 1,715 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Boston Scientific by 9.8% in the third quarter. Thrivent Financial for Lutherans now owns 366,807 shares of the medical equipment provider’s stock valued at $30,740,000 after purchasing an additional 32,844 shares during the period. Quest Partners LLC grew its holdings in shares of Boston Scientific by 10.3% in the third quarter. Quest Partners LLC now owns 17,786 shares of the medical equipment provider’s stock valued at $1,490,000 after purchasing an additional 1,668 shares during the period. Finally, Caprock Group LLC boosted its stake in Boston Scientific by 8.6% during the third quarter. Caprock Group LLC now owns 46,512 shares of the medical equipment provider’s stock worth $3,898,000 after buying an additional 3,686 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In other news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific 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 transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares in the company, valued at $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock valued at $14,319,269 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Up 1.6 %

BSX stock opened at $100.77 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The company’s 50 day moving average is $101.45 and its two-hundred day moving average is $92.15. The stock has a market cap of $148.72 billion, a P/E ratio of 80.62, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BSX has been the subject of several research analyst reports. Stifel Nicolaus increased their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. TD Cowen raised their price objective 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. Morgan Stanley raised their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Argus set a $130.00 price objective on shares of Boston Scientific in a research note on Tuesday, February 18th. Finally, Piper Sandler raised their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.91.

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.