Wedmont Private Capital Has $1.02 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

Wedmont Private Capital raised its stake in Boston Scientific Co. (NYSE:BSX) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,914 shares of the medical equipment provider’s stock after buying an additional 619 shares during the period. Wedmont Private Capital’s holdings in Boston Scientific were worth $1,024,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BSX. Bruce G. Allen Investments LLC acquired a new stake in Boston Scientific in the fourth quarter valued at approximately $28,000. Sachetta LLC acquired a new stake in Boston Scientific in the fourth quarter valued at approximately $32,000. Frazier Financial Advisors LLC acquired a new stake in Boston Scientific in the fourth quarter valued at approximately $32,000. Jones Financial Companies Lllp boosted its position in Boston Scientific by 53.0% in the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 193 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Boston Scientific by 58.0% in the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 215 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.9 %

BSX opened at $77.71 on Friday. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $77.81. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The company has a market cap of $114.01 billion, a P/E ratio of 65.30, a price-to-earnings-growth ratio of 2.63 and a beta of 0.81. The company has a fifty day moving average price of $73.90 and a two-hundred day moving average price of $66.75.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. Analysts predict that Boston Scientific Co. will post 2.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of research analyst reports. Mizuho raised their target price on shares of Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. The Goldman Sachs Group started coverage on shares of Boston Scientific in a report on Thursday, May 30th. They set a “buy” rating and a $90.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. TD Cowen lifted their price target on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Finally, Wells Fargo & Company lifted their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $76.70.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the sale, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the sale, the director now directly owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,627 shares of company stock valued at $5,937,353. Corporate insiders own 0.50% of the company’s stock.

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.