Fortitude Family Office LLC Acquires 184 Shares of Boston Scientific Co. (NYSE:BSX)

Fortitude Family Office LLC increased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 62.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 481 shares of the medical equipment provider’s stock after purchasing an additional 184 shares during the quarter. Fortitude Family Office LLC’s holdings in Boston Scientific were worth $43,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BSX. Marshall Wace LLP increased its position in Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after acquiring an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd increased its position in Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after acquiring an additional 2,615,903 shares during the period. Ameriprise Financial Inc. increased its holdings in Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after buying an additional 1,824,405 shares during the period. State Street Corp increased its holdings in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after buying an additional 1,389,172 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Boston Scientific by 98.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after buying an additional 1,091,561 shares during the period. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares of the company’s stock, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,989 shares of company stock valued at $2,702,261 in the last three months. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Down 0.8 %

Shares of NYSE:BSX opened at $95.14 on Friday. The firm has a market cap of $140.22 billion, a P/E ratio of 78.63, a P/E/G ratio of 2.67 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $59.39 and a 12-month high of $97.13. The business has a fifty day simple moving average of $89.96 and a 200 day simple moving average of $83.80.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. Analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on BSX shares. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Evercore ISI raised their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. TD Cowen raised their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Sanford C. Bernstein raised their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $97.26.

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.