Wedmont Private Capital Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

Wedmont Private Capital grew its position in Boston Scientific Co. (NYSE:BSX) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,236 shares of the medical equipment provider’s stock after acquiring an additional 1,506 shares during the quarter. Wedmont Private Capital’s holdings in Boston Scientific were worth $1,920,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Capital Investment Advisors LLC raised its position in Boston Scientific by 12.2% in the 4th quarter. Capital Investment Advisors LLC now owns 2,899 shares of the medical equipment provider’s stock worth $259,000 after purchasing an additional 315 shares during the period. Brookstone Capital Management raised its holdings in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after buying an additional 20,307 shares during the period. Trust Co. of Toledo NA OH bought a new stake in shares of Boston Scientific during the 4th quarter worth approximately $229,000. Czech National Bank boosted its holdings in Boston Scientific by 6.4% during the 4th quarter. Czech National Bank now owns 319,328 shares of the medical equipment provider’s stock valued at $28,522,000 after acquiring an additional 19,339 shares during the period. Finally, West Oak Capital LLC bought a new position in Boston Scientific in the 4th quarter valued at $133,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX traded down $0.21 during mid-day trading on Monday, reaching $94.67. The company’s stock had a trading volume of 2,110,222 shares, compared to its average volume of 5,045,658. The stock has a market capitalization of $139.53 billion, a P/E ratio of 78.24, a P/E/G ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 1-year low of $59.61 and a 1-year high of $97.13. The stock has a 50-day moving average of $89.96 and a two-hundred day moving average of $83.89. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period in the prior year, the business earned $0.50 earnings per share. The business’s revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Activity

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the sale, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now 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. In the last quarter, insiders have sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BSX shares. Wells Fargo & Company upped their target price on shares of Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group upped their target price on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Sanford C. Bernstein upped their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.26.

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.