Merit Financial Group LLC Grows Stock Position in Boston Scientific Co. (NYSE:BSX)

Merit Financial Group LLC boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 12.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,482 shares of the medical equipment provider’s stock after acquiring an additional 11,502 shares during the quarter. Merit Financial Group LLC’s holdings in Boston Scientific were worth $9,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of BSX. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific during the third quarter valued at approximately $28,000. Dunhill Financial LLC boosted its position in Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 152 shares during the period. Global Wealth Strategies & Associates grew its holdings in Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares during the last quarter. West Oak Capital LLC purchased a new position in shares of Boston Scientific in the fourth quarter valued at about $29,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Boston Scientific during the third quarter valued at about $30,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BSX. Canaccord Genuity Group raised their target price on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Sanford C. Bernstein lifted their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BTIG Research upped their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $97.26.

Boston Scientific Stock Up 0.6 %

Shares of Boston Scientific stock opened at $98.73 on Friday. The company has a 50-day simple moving average of $90.79 and a two-hundred day simple moving average of $84.33. The stock has a market capitalization of $145.52 billion, a PE ratio of 81.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $59.85 and a 52-week high of $99.14. 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 announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company 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%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 EPS. On average, analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,989 shares of company stock valued at $2,702,261 over the last ninety days. Insiders own 0.50% of the company’s stock.

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.