PFG Investments LLC boosted its stake in shares of Boston Scientific Co. (NYSE:BSX – Free Report) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,113 shares of the medical equipment provider’s stock after purchasing an additional 125 shares during the period. PFG Investments LLC’s holdings in Boston Scientific were worth $725,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific during the third quarter valued at $28,000. Dunhill Financial LLC grew its stake in Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Global Wealth Strategies & Associates increased its holdings in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the period. West Oak Capital LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth about $29,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Boston Scientific during the third quarter worth about $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on BSX. Canaccord Genuity Group increased their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Bank of America raised their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Truist Financial lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada upped their target price on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.26.
Boston Scientific Stock Performance
NYSE:BSX opened at $102.79 on Thursday. The company has a market cap of $151.50 billion, a P/E ratio of 84.95, a P/E/G ratio of 2.63 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $61.08 and a twelve month high of $103.17. The company’s 50-day moving average price is $92.74 and its 200-day moving average price is $85.81. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.
Insider Activity
In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the sale, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. This represents a 19.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,989 shares of company stock worth $2,702,261 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.
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.
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