Pines Wealth Management LLC Acquires New Stake in Boston Scientific Co. (NYSE:BSX)

Pines Wealth Management LLC bought a new position in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,413 shares of the medical equipment provider’s stock, valued at approximately $798,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Wace LLP grew its stake in Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after buying an additional 3,608,158 shares in the last quarter. AustralianSuper Pty Ltd lifted its holdings in shares of Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after acquiring an additional 2,615,903 shares during the last quarter. Ameriprise Financial Inc. grew its position in Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after acquiring an additional 1,824,405 shares in the last quarter. State Street Corp increased its stake 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. Finally, Allspring Global Investments Holdings LLC raised its position in Boston Scientific by 98.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after purchasing an additional 1,091,561 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 1.0 %

Shares of NYSE BSX opened at $95.54 on Wednesday. The firm has a fifty day simple moving average of $90.36 and a two-hundred day simple moving average of $84.15. The firm has a market capitalization of $140.81 billion, a PE ratio of 78.96, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12 month low of $59.61 and a 12 month high of $97.13.

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

Insider Activity

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,989 shares of company stock worth $2,702,261 in the last quarter. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

BSX has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Bank of America increased their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus boosted their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Evercore ISI increased their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, BTIG Research boosted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.26.

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.