Kestra Investment Management LLC Buys Shares of 554 Boston Scientific Co. (NYSE:BSX)

Kestra Investment Management LLC bought a new stake in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 554 shares of the medical equipment provider’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. boosted its stake in Boston Scientific by 56.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 17,965 shares of the medical equipment provider’s stock valued at $1,605,000 after acquiring an additional 6,487 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Boston Scientific by 323.6% in the fourth quarter. Venturi Wealth Management LLC now owns 7,620 shares of the medical equipment provider’s stock valued at $681,000 after acquiring an additional 5,821 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Boston Scientific by 4.4% in the fourth quarter. CIBC Asset Management Inc now owns 242,485 shares of the medical equipment provider’s stock valued at $21,659,000 after acquiring an additional 10,181 shares during the last quarter. Highview Capital Management LLC DE boosted its stake in Boston Scientific by 6.2% in the fourth quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider’s stock valued at $2,189,000 after acquiring an additional 1,439 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in Boston Scientific in the fourth quarter valued at about $97,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on BSX shares. 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 research note on Thursday, February 6th. Raymond James upped their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Citigroup upped their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two equities research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.39.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the transaction, the chief financial officer now owns 225,808 shares in the company, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,640 shares of company stock valued at $15,718,289 in the last quarter. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $104.44 on Friday. The company’s fifty day moving average price is $97.98 and its 200-day moving average price is $89.27. The firm has a market capitalization of $154.12 billion, a price-to-earnings ratio of 83.55, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a one year low of $65.52 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

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

About Boston Scientific

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.