Hennion & Walsh Asset Management Inc. Increases Stock Position in Boston Scientific Co. (NYSE:BSX)

Hennion & Walsh Asset Management Inc. grew its holdings in Boston Scientific Co. (NYSE:BSX) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,340 shares of the medical equipment provider’s stock after purchasing an additional 7,618 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Boston Scientific were worth $9,588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSX. BOKF NA lifted its holdings in shares of Boston Scientific by 14.0% during the 2nd quarter. BOKF NA now owns 3,065 shares of the medical equipment provider’s stock valued at $236,000 after buying an additional 377 shares during the period. Thoroughbred Financial Services LLC purchased a new stake in Boston Scientific during the second quarter valued at $203,000. J.W. Cole Advisors Inc. boosted its position in Boston Scientific by 9.2% in the second quarter. J.W. Cole Advisors Inc. now owns 3,989 shares of the medical equipment provider’s stock worth $307,000 after purchasing an additional 336 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Boston Scientific during the 2nd quarter valued at about $484,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at about $274,000. 89.07% of the stock is owned by institutional investors.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction that occurred on 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 owns 39,398 shares in the company, valued at $3,610,038.74. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,989 shares of company stock valued at $2,702,261 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the subject of several recent research reports. Truist Financial boosted 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. JPMorgan Chase & Co. boosted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Bank of America raised their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Sanford C. Bernstein upped their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Mizuho lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.26.

Boston Scientific Price Performance

Shares of BSX stock opened at $97.32 on Thursday. The stock’s 50-day moving average is $90.36 and its 200 day moving average is $84.15. Boston Scientific Co. has a 1-year low of $59.85 and a 1-year high of $97.36. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The company has a market cap of $143.43 billion, a P/E ratio of 80.43, a PEG ratio of 2.48 and a beta of 0.80.

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

Boston Scientific 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.