Jackson Wealth Management LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Jackson Wealth Management LLC bought a new stake in Boston Scientific Co. (NYSE:BSX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,979 shares of the medical equipment provider’s stock, valued at approximately $333,000.

A number of other hedge funds have also made changes to their positions in BSX. Park Avenue Securities LLC raised its stake in shares of Boston Scientific by 12.8% in the 1st quarter. Park Avenue Securities LLC now owns 12,435 shares of the medical equipment provider’s stock valued at $852,000 after acquiring an additional 1,413 shares during the period. Brookstone Capital Management raised its stake in shares of Boston Scientific by 35.0% in the 1st quarter. Brookstone Capital Management now owns 14,300 shares of the medical equipment provider’s stock valued at $979,000 after acquiring an additional 3,710 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Boston Scientific by 10.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 66,024 shares of the medical equipment provider’s stock valued at $4,522,000 after acquiring an additional 6,485 shares during the period. 180 Wealth Advisors LLC raised its stake in shares of Boston Scientific by 36.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 5,621 shares of the medical equipment provider’s stock valued at $385,000 after acquiring an additional 1,504 shares during the period. Finally, Courier Capital LLC raised its stake in shares of Boston Scientific by 22.5% in the 1st quarter. Courier Capital LLC now owns 11,399 shares of the medical equipment provider’s stock valued at $781,000 after acquiring an additional 2,096 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 316,253 shares of company stock worth $26,714,298. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Mizuho lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday. Canaccord Genuity Group lifted their price target on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen lifted their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday. Finally, BTIG Research raised their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.73.

Boston Scientific Trading Down 1.3 %

Shares of Boston Scientific stock traded down $1.10 on Thursday, hitting $86.35. The stock had a trading volume of 2,226,216 shares, compared to its average volume of 6,003,222. The stock has a 50 day moving average of $83.19 and a 200 day moving average of $77.57. Boston Scientific Co. has a twelve month low of $49.15 and a twelve month high of $88.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The firm has a market capitalization of $126.68 billion, a P/E ratio of 72.56, a PEG ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 EPS. Sell-side analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

About Boston Scientific

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.