Marks Group Wealth Management Inc Decreases Stock Position in Boston Scientific Co. (NYSE:BSX)

Marks Group Wealth Management Inc trimmed its position in shares of Boston Scientific Co. (NYSE:BSX) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,241 shares of the medical equipment provider’s stock after selling 4,676 shares during the period. Boston Scientific makes up 1.0% of Marks Group Wealth Management Inc’s portfolio, making the stock its 21st biggest position. Marks Group Wealth Management Inc’s holdings in Boston Scientific were worth $9,757,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSX. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Boston Scientific by 32.4% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,786 shares of the medical equipment provider’s stock worth $317,000 after acquiring an additional 927 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Boston Scientific during the 3rd quarter valued at approximately $89,000. Grove Bank & Trust increased its holdings in Boston Scientific by 12.9% during the 3rd quarter. Grove Bank & Trust now owns 2,801 shares of the medical equipment provider’s stock worth $235,000 after purchasing an additional 320 shares during the last quarter. Creative Planning raised its position in shares of Boston Scientific by 7.7% in the 3rd quarter. Creative Planning now owns 204,208 shares of the medical equipment provider’s stock valued at $17,113,000 after purchasing an additional 14,663 shares in the last quarter. Finally, Boomfish Wealth Group LLC purchased a new position in shares of Boston Scientific during the 3rd quarter valued at approximately $281,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 6,528 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the completion of the sale, the executive vice president now directly owns 26,449 shares of the company’s stock, valued at approximately $2,776,351.53. This represents a 19.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,830 shares of company stock worth $5,149,969 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BSX shares. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Thursday, February 6th. Piper Sandler boosted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. TD Cowen upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, Barclays upped their price objective on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boston Scientific currently has a consensus rating of “Buy” and a consensus price target of $107.39.

Boston Scientific Stock Performance

BSX stock opened at $106.03 on Wednesday. The company has a 50-day simple moving average of $95.19 and a 200 day simple moving average of $87.50. The company has a market capitalization of $156.26 billion, a P/E ratio of 84.82, 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 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a fifty-two week low of $64.54 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. Sell-side analysts predict that Boston Scientific Co. will post 2.83 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.