FineMark National Bank & Trust Makes New $206,000 Investment in Boston Scientific Co. (NYSE:BSX)

FineMark National Bank & Trust purchased a new stake in Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,301 shares of the medical equipment provider’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC grew its position in Boston Scientific by 3.5% during the fourth quarter. Ashton Thomas Securities LLC now owns 10,316 shares of the medical equipment provider’s stock worth $921,000 after buying an additional 348 shares during the period. TD Asset Management Inc. grew its holdings in shares of Boston Scientific by 2.1% in the 4th quarter. TD Asset Management Inc. now owns 2,289,791 shares of the medical equipment provider’s stock worth $204,524,000 after acquiring an additional 46,255 shares during the period. EFG Asset Management North America Corp. increased its stake in Boston Scientific by 9.2% in the 4th quarter. EFG Asset Management North America Corp. now owns 29,930 shares of the medical equipment provider’s stock valued at $2,674,000 after purchasing an additional 2,527 shares in the last quarter. Modern Wealth Management LLC acquired a new position in Boston Scientific during the fourth quarter worth $269,000. Finally, Corebridge Financial Inc. boosted its position in Boston Scientific by 7.7% during the fourth quarter. Corebridge Financial Inc. now owns 440,953 shares of the medical equipment provider’s stock worth $39,386,000 after purchasing an additional 31,551 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Down 0.7 %

NYSE BSX opened at $102.31 on Thursday. The firm has a market capitalization of $151.32 billion, a price-to-earnings ratio of 81.85, a PEG ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company’s 50 day moving average price is $102.10 and its 200 day moving average price is $92.87.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James lifted their price target on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Morgan Stanley lifted their target price 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. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Argus set a $130.00 target price on Boston Scientific in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus raised their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Insider Transactions at Boston Scientific

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock valued at $14,319,269 over the last quarter. Company insiders own 0.50% of the company’s stock.

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.