Brown Financial Advisors Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

Brown Financial Advisors reduced its stake in Boston Scientific Co. (NYSE:BSX) by 3.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,001 shares of the medical equipment provider’s stock after selling 373 shares during the quarter. Brown Financial Advisors’ holdings in Boston Scientific were worth $1,072,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BSX. Private Advisor Group LLC boosted its stake in Boston Scientific by 2.7% in the third quarter. Private Advisor Group LLC now owns 36,003 shares of the medical equipment provider’s stock valued at $3,017,000 after acquiring an additional 944 shares during the last quarter. PFG Investments LLC lifted its stake in Boston Scientific by 3.3% in the third quarter. PFG Investments LLC now owns 7,988 shares of the medical equipment provider’s stock valued at $669,000 after purchasing an additional 258 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Boston Scientific by 123.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 158,538 shares of the medical equipment provider’s stock valued at $13,285,000 after purchasing an additional 87,470 shares during the period. Cavalier Investments LLC grew its holdings in Boston Scientific by 6.7% during the third quarter. Cavalier Investments LLC now owns 71,841 shares of the medical equipment provider’s stock valued at $6,020,000 after purchasing an additional 4,485 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its position in Boston Scientific by 11.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 13,718 shares of the medical equipment provider’s stock worth $1,150,000 after buying an additional 1,445 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the 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 completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Daniel J. Brennan sold 15,087 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the transaction, the chief financial officer now owns 241,451 shares in the company, valued at $25,369,256.57. The trade was a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,630 shares of company stock worth $14,467,616 in the last ninety days. 0.50% of the stock is owned by company insiders.

Boston Scientific Trading Down 0.2 %

Shares of BSX stock opened at $104.30 on Tuesday. The business has a 50-day moving average price of $98.25 and a two-hundred day moving average price of $89.69. Boston Scientific Co. has a 12-month low of $65.52 and a 12-month high of $107.17. 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 firm has a market cap of $153.92 billion, a P/E ratio of 83.44, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler upped their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Truist Financial increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock 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. Stifel Nicolaus upped their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company boosted their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price of $107.39.

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.