NewEdge Wealth LLC Sells 540 Shares of Boston Scientific Co. (NYSE:BSX)

NewEdge Wealth LLC cut its position in shares of Boston Scientific Co. (NYSE:BSX) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,595 shares of the medical equipment provider’s stock after selling 540 shares during the quarter. NewEdge Wealth LLC’s holdings in Boston Scientific were worth $3,894,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Adero Partners LLC boosted its holdings in Boston Scientific by 3.3% in the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after acquiring an additional 120 shares in the last quarter. Grove Bank & Trust boosted its holdings in Boston Scientific by 4.4% in the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after acquiring an additional 122 shares in the last quarter. PFG Investments LLC boosted its holdings in Boston Scientific by 1.6% in the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after acquiring an additional 125 shares in the last quarter. Stonegate Investment Group LLC boosted its holdings in Boston Scientific by 1.6% in the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock worth $699,000 after acquiring an additional 126 shares in the last quarter. Finally, Ashton Thomas Securities LLC boosted its holdings in Boston Scientific by 1.3% in the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock worth $835,000 after acquiring an additional 129 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BSX has been the topic of several analyst reports. UBS Group boosted their target price on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Argus set a $130.00 price target on Boston Scientific in a research note on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Friday, January 10th. Finally, Barclays boosted their price target on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $108.91.

Boston Scientific Stock Performance

Shares of BSX opened at $104.02 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $99.28 and a two-hundred day simple moving average of $90.22. The stock has a market cap of $153.51 billion, a price-to-earnings ratio of 83.21, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a 52 week low of $65.52 and a 52 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 EPS for the quarter, topping analysts’ consensus estimates 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, analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other Boston Scientific news, 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 completion of the sale, the executive vice president now owns 5,502 shares in the company, valued at $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the sale, the executive vice president now owns 25,443 shares of the company’s stock, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,305 shares of company stock worth $14,954,985 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

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.