DAVENPORT & Co LLC Boosts Stake in Boston Scientific Co. (NYSE:BSX)

DAVENPORT & Co LLC lifted its position in Boston Scientific Co. (NYSE:BSX) by 5.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,829 shares of the medical equipment provider’s stock after acquiring an additional 561 shares during the period. DAVENPORT & Co LLC’s holdings in Boston Scientific were worth $1,057,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atomi Financial Group Inc. grew its stake in shares of Boston Scientific by 13.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 8,266 shares of the medical equipment provider’s stock worth $693,000 after buying an additional 997 shares during the last quarter. Brookstone Capital Management boosted its holdings in Boston Scientific by 22.3% in the third quarter. Brookstone Capital Management now owns 85,553 shares of the medical equipment provider’s stock worth $7,169,000 after acquiring an additional 15,608 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Boston Scientific in the third quarter worth $326,000. Daymark Wealth Partners LLC bought a new position in shares of Boston Scientific during the third quarter valued at $281,000. Finally, Wedmont Private Capital raised its position in shares of Boston Scientific by 9.2% in the 3rd quarter. Wedmont Private Capital now owns 18,730 shares of the medical equipment provider’s stock worth $1,581,000 after purchasing an additional 1,574 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Thursday. BTIG Research increased their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Stifel Nicolaus boosted their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. TD Cowen increased their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Citigroup boosted their price target on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $104.26.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now owns 5,502 shares in the company, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,302 shares of company stock worth $4,464,725 over the last three months. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Price Performance

NYSE BSX opened at $105.01 on Friday. The business’s fifty day moving average is $94.30 and its 200 day moving average is $86.84. Boston Scientific Co. has a fifty-two week low of $64.39 and a fifty-two week high of $107.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company has a market capitalization of $154.76 billion, a PE ratio of 86.78, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted 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 17.23% and a net margin of 11.26%. Sell-side analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

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.