Boston Scientific Co. (NYSE:BSX) Holdings Raised by LPL Financial LLC

LPL Financial LLC grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 13.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,119,017 shares of the medical equipment provider’s stock after acquiring an additional 129,019 shares during the period. LPL Financial LLC’s holdings in Boston Scientific were worth $99,951,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Mechanics Bank Trust Department acquired a new position in Boston Scientific in the 4th quarter worth about $415,000. Highland Capital Management LLC bought a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $4,887,000. Covenant Asset Management LLC acquired a new position in Boston Scientific in the fourth quarter worth approximately $3,405,000. Brookstone Capital Management raised its position in Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after acquiring an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. lifted its stake in Boston Scientific by 31.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after acquiring an additional 4,702 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BSX has been the topic of several analyst reports. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Morgan Stanley raised their target price on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. UBS Group upped their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Friday, January 10th. Finally, Wells Fargo & Company increased their price target on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $103.09 on Wednesday. The business’s 50 day moving average is $101.99 and its 200-day moving average is $92.80. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $152.48 billion, a PE ratio of 82.47, a PEG ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 1-year low of $66.80 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) 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%. Sell-side analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction on 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 owns 28,454 shares in the company, valued at $2,966,329.50. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 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.

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.