HB Wealth Management LLC Buys 1,676 Shares of Boston Scientific Co. (NYSE:BSX)

HB Wealth Management LLC increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,036 shares of the medical equipment provider’s stock after acquiring an additional 1,676 shares during the quarter. HB Wealth Management LLC’s holdings in Boston Scientific were worth $2,683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Edgestream Partners L.P. lifted its stake in shares of Boston Scientific by 64.7% in the second quarter. Edgestream Partners L.P. now owns 8,796 shares of the medical equipment provider’s stock valued at $677,000 after buying an additional 3,455 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Boston Scientific by 1.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 58,969 shares of the medical equipment provider’s stock worth $4,548,000 after acquiring an additional 888 shares during the period. Intech Investment Management LLC raised its position in Boston Scientific by 87.7% in the second quarter. Intech Investment Management LLC now owns 77,862 shares of the medical equipment provider’s stock worth $5,996,000 after acquiring an additional 36,370 shares during the period. AE Wealth Management LLC raised its position in Boston Scientific by 18.9% in the second quarter. AE Wealth Management LLC now owns 16,261 shares of the medical equipment provider’s stock worth $1,252,000 after acquiring an additional 2,582 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of Boston Scientific by 71.6% in the second quarter. Thrivent Financial for Lutherans now owns 333,963 shares of the medical equipment provider’s stock valued at $25,718,000 after purchasing an additional 139,392 shares during the period. 89.07% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. This represents a 10.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the sale, the executive vice president now owns 29,308 shares of the company’s stock, valued at $2,660,580.24. This represents a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,989 shares of company stock valued at $2,702,261. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the topic of several research reports. Citigroup boosted their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Truist Financial boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group boosted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. BTIG Research boosted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company upped their target price on shares of Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.26.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $98.73 on Monday. Boston Scientific Co. has a 52-week low of $59.85 and a 52-week high of $99.14. The stock has a market capitalization of $145.52 billion, a price-to-earnings ratio of 81.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.80. The company has a fifty day moving average of $91.00 and a 200-day moving average of $84.54. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s revenue was up 19.3% on a year-over-year basis. Equities research analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Boston Scientific 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.