Ashton Thomas Private Wealth LLC Increases Stock Position in Boston Scientific Co. (NYSE:BSX)

Ashton Thomas Private Wealth LLC increased its holdings in Boston Scientific Co. (NYSE:BSX) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,945 shares of the medical equipment provider’s stock after buying an additional 136 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Boston Scientific were worth $531,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BSX. Impax Asset Management Group plc grew its position in shares of Boston Scientific by 17.5% in the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after purchasing an additional 815,403 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Boston Scientific during the 3rd quarter valued at about $30,000. CWA Asset Management Group LLC bought a new stake in shares of Boston Scientific during the third quarter valued at about $666,000. Verdence Capital Advisors LLC lifted its holdings in shares of Boston Scientific by 4.3% in the third quarter. Verdence Capital Advisors LLC now owns 4,007 shares of the medical equipment provider’s stock worth $336,000 after buying an additional 165 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Boston Scientific by 12.5% in the third quarter. Assetmark Inc. now owns 152,810 shares of the medical equipment provider’s stock valued at $12,806,000 after acquiring an additional 16,986 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the sale, the executive vice president now owns 28,454 shares in the company, valued at $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock valued at $14,319,269 in the last quarter. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 5.4 %

NYSE BSX opened at $93.79 on Tuesday. The stock has a 50-day moving average of $100.54 and a 200-day moving average of $91.37. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 1-year low of $65.52 and a 1-year high of $107.17. The firm has a market cap of $138.42 billion, a PE ratio of 75.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Truist Financial upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Argus set a $130.00 price objective on Boston Scientific in a research note on Tuesday, February 18th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.91.

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.