Global Wealth Strategies & Associates Acquires 250 Shares of Boston Scientific Co. (NYSE:BSX)

Global Wealth Strategies & Associates boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 423.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 309 shares of the medical equipment provider’s stock after acquiring an additional 250 shares during the quarter. Global Wealth Strategies & Associates’ holdings in Boston Scientific were worth $28,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Marshall Wace LLP lifted its holdings in shares of Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after acquiring an additional 3,608,158 shares during the last quarter. AustralianSuper Pty Ltd lifted its stake in Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after purchasing an additional 2,615,903 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Boston Scientific by 30.0% during the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after buying an additional 1,824,405 shares during the period. State Street Corp grew its stake in shares of Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after buying an additional 1,389,172 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock worth $184,810,000 after buying an additional 1,091,561 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BSX has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Citigroup boosted their price objective on shares of Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Raymond James raised their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Stifel Nicolaus increased their price objective on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.96.

Boston Scientific Price Performance

BSX stock traded down $0.23 during mid-day trading on Thursday, reaching $89.09. 1,361,992 shares of the company’s stock were exchanged, compared to its average volume of 5,932,722. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 12-month low of $57.33 and a 12-month high of $91.93. The stock’s 50 day moving average is $88.77 and its 200 day moving average is $83.06. The company has a market cap of $131.30 billion, a price-to-earnings ratio of 73.63, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the company earned $0.50 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. On average, research analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 321,174 shares of company stock valued at $27,372,081. Corporate insiders own 0.50% of the company’s stock.

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.