Morey & Quinn Wealth Partners LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Morey & Quinn Wealth Partners LLC bought a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,687 shares of the medical equipment provider’s stock, valued at approximately $1,133,000. Boston Scientific comprises 1.0% of Morey & Quinn Wealth Partners LLC’s investment portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock worth $11,869,805,000 after buying an additional 1,600,062 shares during the last quarter. State Street Corp lifted its position in 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 acquiring an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP boosted its stake in Boston Scientific by 2.2% in the third 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 grew its holdings in shares of Boston Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after purchasing an additional 480,729 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Boston Scientific by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,475,031 shares of the medical equipment provider’s stock worth $756,990,000 after purchasing an additional 456,654 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

NYSE BSX opened at $103.09 on Wednesday. The business has a 50 day moving average price of $101.99 and a 200 day moving average price of $92.80. The company has a market capitalization of $152.48 billion, a P/E ratio of 82.47, a PEG ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 1-year low of $66.80 and a 1-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 released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Sell-side analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on BSX shares. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research report on Friday, January 10th. UBS Group raised their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. 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 report on Thursday, February 6th. Morgan Stanley raised their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

Insider Activity

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This represents a 75.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock worth $14,319,269 over the last ninety days. 0.50% of the stock is currently owned by insiders.

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.