SVB Wealth LLC Boosts Stake in Boston Scientific Co. (NYSE:BSX)

SVB Wealth LLC increased its position in Boston Scientific Co. (NYSE:BSX) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,051 shares of the medical equipment provider’s stock after buying an additional 1,503 shares during the period. SVB Wealth LLC’s holdings in Boston Scientific were worth $812,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BSX. Moneta Group Investment Advisors LLC lifted its position in shares of Boston Scientific by 112,306.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,661,660 shares of the medical equipment provider’s stock worth $863,475,000 after buying an additional 18,645,058 shares in the last quarter. Norges Bank purchased a new stake in shares of Boston Scientific in the fourth quarter worth about $632,520,000. FMR LLC raised its position in Boston Scientific by 6.8% during the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after purchasing an additional 8,045,263 shares during the period. Steadfast Capital Management LP purchased a new stake in Boston Scientific during the fourth quarter valued at approximately $138,969,000. Finally, American Century Companies Inc. raised its position in Boston Scientific by 391.6% during the third quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock valued at $172,752,000 after purchasing an additional 2,606,253 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Down 0.1 %

Shares of NYSE:BSX opened at $67.33 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The stock has a market cap of $98.78 billion, a P/E ratio of 62.93, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. The business’s 50 day moving average is $67.25 and its 200 day moving average is $59.84. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $69.21.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter last year, the firm earned $0.45 EPS. Sell-side analysts predict that Boston Scientific Co. will post 2.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Citigroup upped their price objective on Boston Scientific from $71.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Argus upped their price objective on Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. BTIG Research restated a “buy” rating and set a $64.00 price objective on shares of Boston Scientific in a research report on Friday, December 29th. Evercore ISI upped their price objective on Boston Scientific from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Raymond James upped their price objective on Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 1st. Two 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 stock. According to MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $68.50.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the sale, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is currently owned by corporate insiders.

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.