Millstone Evans Group LLC Makes New Investment in Boston Scientific Co. (NYSE:BSX)

Millstone Evans Group LLC bought a new position in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 580 shares of the medical equipment provider’s stock, valued at approximately $52,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Parnassus Investments LLC lifted its holdings in Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after buying an additional 97 shares in the last quarter. PDS Planning Inc lifted its holdings in Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after buying an additional 113 shares in the last quarter. Adero Partners LLC lifted its holdings in Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after buying an additional 120 shares in the last quarter. Grove Bank & Trust lifted its holdings in Boston Scientific by 4.4% during the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after buying an additional 122 shares in the last quarter. Finally, PFG Investments LLC lifted its holdings in Boston Scientific by 1.6% during the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after buying an additional 125 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Down 0.8 %

Shares of Boston Scientific stock opened at $100.66 on Monday. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The company has a market capitalization of $148.89 billion, a P/E ratio of 80.53, a PEG ratio of 2.79 and a beta of 0.77. The company’s fifty day moving average is $101.68 and its two-hundred day moving average is $92.50.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Activity

In other news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares in the company, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock valued at $14,319,269 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BSX. Stifel Nicolaus raised their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Canaccord Genuity Group raised their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a report on Monday, March 3rd. Finally, Citigroup raised their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $108.91.

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.