Graypoint LLC Buys 550 Shares of Boston Scientific Co. (NYSE:BSX)

Graypoint LLC increased its stake in Boston Scientific Co. (NYSE:BSX) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,897 shares of the medical equipment provider’s stock after purchasing an additional 550 shares during the quarter. Graypoint LLC’s holdings in Boston Scientific were worth $1,331,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BSX. Marshall Wace LLP raised its holdings in Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after acquiring an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd raised its holdings in Boston Scientific by 4,292.3% during 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 acquiring an additional 2,615,903 shares during the period. Ameriprise Financial Inc. raised its holdings in Boston Scientific by 30.0% during the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares during the period. 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 valued at $5,266,522,000 after acquiring an additional 1,389,172 shares during the period. Finally, 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 valued at $184,810,000 after acquiring an additional 1,091,561 shares during the period. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of recent analyst reports. Truist Financial raised their price target on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Royal Bank of Canada lifted their target price on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Wells Fargo & Company lifted their target price on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.26.

Insider Activity

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

Boston Scientific Stock Down 0.8 %

Shares of NYSE:BSX opened at $95.14 on Friday. Boston Scientific Co. has a 1 year low of $59.39 and a 1 year high of $97.13. The business has a 50 day simple moving average of $89.96 and a two-hundred day simple moving average of $83.80. The firm has a market capitalization of $140.22 billion, a PE ratio of 78.63, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. On average, equities analysts predict 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.