Kovack Advisors Inc. Acquires Shares of 3,739 Boston Scientific Co. (NYSE:BSX)

Kovack Advisors Inc. acquired a new stake in Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 3,739 shares of the medical equipment provider’s stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Boston Scientific by 2.3% in the 3rd 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 in the last quarter. Wellington Management Group LLP raised its holdings in Boston Scientific by 2.2% in 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 acquiring an additional 718,515 shares in the last quarter. Geode Capital Management LLC raised its holdings in Boston Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after acquiring an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Boston Scientific by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock valued at $671,940,000 after acquiring an additional 64,720 shares in the last quarter. Finally, Impax Asset Management Group plc raised its holdings in Boston Scientific by 17.5% in 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 acquiring an additional 815,403 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was 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 in the company, valued at $2,660,580.24. This represents a 19.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the sale, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,305 shares of company stock worth $14,954,985. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 3.2 %

NYSE BSX opened at $104.02 on Friday. The business’s 50-day moving average price is $99.28 and its two-hundred day moving average price is $90.32. Boston Scientific Co. has a 12 month low of $65.52 and a 12 month high of $107.17. The firm has a market capitalization of $153.51 billion, a PE ratio of 83.21, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating 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%. On average, analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

BSX has been the subject of several analyst reports. Canaccord Genuity Group lifted their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays boosted their price target on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Citigroup boosted their price target on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Wells Fargo & Company boosted their price target on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Argus set a $130.00 price target on Boston Scientific in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and a consensus price target of $108.91.

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.