MTM Investment Management LLC Increases Stake in Boston Scientific Co. (NYSE:BSX)

MTM Investment Management LLC grew its stake in Boston Scientific Co. (NYSE:BSX) by 2.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,772 shares of the medical equipment provider’s stock after buying an additional 150 shares during the quarter. MTM Investment Management LLC’s holdings in Boston Scientific were worth $516,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Boston Scientific by 9.7% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 119 shares during the period. Adero Partners LLC lifted its stake in Boston Scientific by 3.3% during the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after purchasing an additional 120 shares during the last quarter. Grove Bank & Trust lifted its stake in Boston Scientific by 4.4% during the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after purchasing an additional 122 shares during the last quarter. PFG Investments LLC lifted its stake in Boston Scientific by 1.6% during the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after purchasing an additional 125 shares during the last quarter. Finally, Stonegate Investment Group LLC lifted its stake in Boston Scientific by 1.6% during the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock worth $699,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.2 %

Shares of NYSE:BSX opened at $105.80 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 52-week low of $64.54 and a 52-week high of $107.17. The stock’s fifty day simple moving average is $95.50 and its 200-day simple moving average is $87.72. The company has a market capitalization of $155.93 billion, a P/E ratio of 84.64, a P/E/G ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, Director Edward J. Ludwig sold 12,000 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the sale, the director now directly owns 24,398 shares in the company, valued at $2,573,501.04. This represents a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $633,916.74. Following the sale, the executive vice president now owns 29,308 shares of the company’s stock, valued at $2,660,580.24. This represents a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,830 shares of company stock worth $6,415,729. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BSX has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th. Canaccord Genuity Group boosted their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Bank of America boosted their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, UBS Group boosted their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific currently has an average rating of “Buy” and a consensus target price of $107.39.

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.