Drive Wealth Management LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Drive Wealth Management LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,810 shares of the medical equipment provider’s stock, valued at approximately $251,000.

A number of other institutional investors also recently modified their holdings of BSX. AustralianSuper Pty Ltd lifted its holdings in shares of 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 valued at $224,320,000 after purchasing an additional 2,615,903 shares in the last quarter. State Street Corp raised its holdings in 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 worth $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Boston Scientific by 98.0% during 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 acquiring an additional 1,091,561 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Boston Scientific by 68.6% during the third quarter. Handelsbanken Fonder AB now owns 2,371,407 shares of the medical equipment provider’s stock worth $198,724,000 after acquiring an additional 965,080 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Boston Scientific by 32.3% during the third quarter. Assenagon Asset Management S.A. now owns 3,897,117 shares of the medical equipment provider’s stock worth $326,578,000 after acquiring an additional 951,580 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BSX shares. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Friday, January 10th. Morgan Stanley upped their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Canaccord Genuity Group upped their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Sanford C. Bernstein upped their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $97.26.

Boston Scientific Trading Up 0.3 %

Shares of BSX stock opened at $102.22 on Tuesday. The stock’s fifty day moving average price is $92.26 and its two-hundred day moving average price is $85.45. The company has a market cap of $150.65 billion, a PE ratio of 84.48, a P/E/G ratio of 2.63 and a beta of 0.80. Boston Scientific Co. has a fifty-two week low of $60.78 and a fifty-two week high of $102.32. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Insider Activity

In other news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 29,989 shares of company stock worth $2,702,261. Insiders own 0.50% of the company’s stock.

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.