Wealth Enhancement Advisory Services LLC Has $4.52 Million Position in Boston Scientific Co. (NYSE:BSX)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 10.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,024 shares of the medical equipment provider’s stock after purchasing an additional 6,485 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Boston Scientific were worth $4,522,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new stake in Boston Scientific during the 4th quarter worth $28,000. Northwest Investment Counselors LLC bought a new position in shares of Boston Scientific during the 1st quarter valued at about $31,000. Sachetta LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $32,000. Frazier Financial Advisors LLC bought a new stake in Boston Scientific during the 4th quarter worth approximately $32,000. Finally, Jones Financial Companies Lllp lifted its stake 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. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

NYSE:BSX opened at $76.41 on Tuesday. 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 stock has a 50 day simple moving average of $74.84 and a 200 day simple moving average of $67.67. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $77.99. The stock has a market cap of $112.10 billion, a P/E ratio of 64.21, a PEG ratio of 2.65 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS 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 business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. Research analysts anticipate that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now directly owns 41,374 shares in the company, valued at approximately $3,032,300.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the sale, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,620,617. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,276 shares of company stock valued at $4,804,228. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Raymond James upped their target price on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 25th. Royal Bank of Canada upped their price target on Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Needham & Company LLC reiterated a “buy” rating and issued a $82.00 price objective on shares of Boston Scientific in a report on Tuesday, June 18th. Robert W. Baird increased their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $77.27.

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.