SVB Wealth LLC Buys Shares of 11,185 Boston Scientific Co. (NYSE:BSX)

SVB Wealth LLC acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,185 shares of the medical equipment provider’s stock, valued at approximately $999,000.

A number of other hedge funds also recently made changes to their positions in the stock. Adero Partners LLC raised its position in shares of Boston Scientific by 3.3% during the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after acquiring an additional 120 shares during the last quarter. Grove Bank & Trust raised its position in shares of Boston Scientific by 4.4% during the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after acquiring an additional 122 shares during the last quarter. PFG Investments LLC raised its position in shares of Boston Scientific by 1.6% during the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after acquiring an additional 125 shares during the last quarter. Stonegate Investment Group LLC increased its holdings in Boston Scientific by 1.6% in the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock worth $699,000 after purchasing an additional 126 shares in the last quarter. Finally, Ashton Thomas Securities LLC increased its holdings in Boston Scientific by 1.3% in the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock worth $835,000 after purchasing an additional 129 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BSX shares. Canaccord Genuity Group lifted their target price on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Truist Financial lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Friday. Morgan Stanley lifted their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boston Scientific currently has an average rating of “Buy” and an average target price of $108.91.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific 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 sale, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the sale, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,322 shares of company stock worth $14,321,068. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Up 1.0 %

Shares of NYSE:BSX opened at $104.82 on Tuesday. The stock has a market cap of $154.69 billion, a price-to-earnings ratio of 83.86, a PEG ratio of 2.79 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 12-month low of $65.52 and a 12-month high of $107.17. The business’s 50 day moving average is $99.57 and its 200 day moving average is $90.61.

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