Morey & Quinn Wealth Partners LLC Invests $1.13 Million in Boston Scientific Co. (NYSE:BSX)

Morey & Quinn Wealth Partners LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,687 shares of the medical equipment provider’s stock, valued at approximately $1,133,000. Boston Scientific makes up 1.0% of Morey & Quinn Wealth Partners LLC’s investment portfolio, making the stock its 23rd largest holding.

A number of other large investors also recently bought and sold shares of BSX. TFC Financial Management Inc. increased its position in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares in the last quarter. Dunhill Financial LLC grew its stake in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the period. Global Wealth Strategies & Associates raised its position in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares during the period. West Oak Capital LLC purchased a new position in Boston Scientific during the fourth quarter valued at $29,000. Finally, Valley National Advisers Inc. grew its position in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 286 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value 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. This trade represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock valued at $14,319,269 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.4 %

Shares of NYSE BSX opened at $103.09 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $152.48 billion, a PE ratio of 82.47, a PEG ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The stock has a fifty day simple moving average of $101.99 and a 200-day simple moving average of $92.80.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share 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, equities analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

BSX has been the topic of a number of research reports. Wells Fargo & Company raised their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Barclays raised their target price on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Canaccord Genuity Group boosted their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. TD Cowen lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Truist Financial increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.91.

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.