GeoWealth Management LLC Has $1.02 Million Stake in Boston Scientific Co. (NYSE:BSX)

GeoWealth Management LLC increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 11.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,450 shares of the medical equipment provider’s stock after buying an additional 1,147 shares during the quarter. GeoWealth Management LLC’s holdings in Boston Scientific were worth $1,023,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. TFC Financial Management Inc. increased its position in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares during the period. Global Wealth Strategies & Associates raised its position in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 250 shares in the last quarter. West Oak Capital LLC bought a new stake in shares of Boston Scientific during the 4th quarter worth approximately $29,000. Valley National Advisers Inc. boosted its position in shares of Boston Scientific by 262.4% during the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 286 shares in the last quarter. Finally, Fairway Wealth LLC bought a new position in Boston Scientific in the fourth quarter valued at approximately $36,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

BSX stock opened at $95.08 on Friday. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The stock has a market capitalization of $140.63 billion, a PE ratio of 76.06, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The company’s 50-day moving average is $99.46 and its 200-day moving average is $94.41. 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 announced its quarterly earnings data 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%. Equities research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BSX shares. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Friday, January 10th. Piper Sandler increased their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley upped 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. Argus set a $130.00 target price on shares of Boston Scientific in a research note on Tuesday, February 18th. Finally, Truist Financial cut their price objective on Boston Scientific from $120.00 to $113.00 and set a “buy” rating on the stock in a report on Friday, April 11th. 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’s stock. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and an average target price of $110.22.

Insider Activity

In related news, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the transaction, the chief financial officer now owns 241,451 shares of the company’s stock, valued at $25,369,256.57. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the completion of the sale, the executive vice president now directly owns 26,449 shares of the company’s stock, valued at $2,776,351.53. The trade was a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,183 shares of company stock worth $13,948,476 over the last three months. 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.