SVB Wealth LLC Buys Shares of 11,185 Boston Scientific Co. (NYSE:BSX)

SVB Wealth LLC bought a new stake in Boston Scientific Co. (NYSE:BSX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 11,185 shares of the medical equipment provider’s stock, valued at approximately $999,000.

Several other hedge funds have also recently made changes to their positions in BSX. State Street Corp raised its stake in shares of Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after buying an additional 1,389,172 shares during the period. Fisher Funds Management LTD bought a new stake in shares of Boston Scientific during the 4th quarter valued at $94,710,000. Impax Asset Management Group plc raised its stake in shares of Boston Scientific by 17.5% during the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after purchasing an additional 815,403 shares during the period. Wellington Management Group LLP raised its stake in shares of Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after purchasing an additional 718,515 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Boston Scientific by 17.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,771,935 shares of the medical equipment provider’s stock valued at $399,888,000 after purchasing an additional 694,585 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BSX shares. Piper Sandler boosted their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Argus set a $130.00 price objective on Boston Scientific in a research note on Tuesday, February 18th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Monday. Barclays boosted their price objective on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada boosted their target price on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and a consensus price target of $108.91.

Insider Activity at Boston Scientific

In related news, CFO Daniel J. Brennan sold 15,087 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares in the company, valued at $25,369,256.57. This represents a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the 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. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,322 shares of company stock worth $14,321,068 in the last ninety days. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

BSX opened at $104.82 on Tuesday. The stock has a 50-day moving average price of $99.57 and a 200-day moving average price of $90.61. Boston Scientific Co. has a 12-month low of $65.52 and a 12-month high of $107.17. 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 stock has a market capitalization of $154.69 billion, a P/E ratio of 83.86, a PEG ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Equities analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.