Whalen Wealth Management Inc. Takes Position in Boston Scientific Co. (NYSE:BSX)

Whalen Wealth Management Inc. bought a new position in Boston Scientific Co. (NYSE:BSX) in the fourth quarter, Holdings Channel reports. The firm bought 7,657 shares of the medical equipment provider’s stock, valued at approximately $684,000.

Several other large investors also recently bought and sold shares of BSX. CRA Financial Services LLC boosted its stake in shares of Boston Scientific by 4.3% in the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 117 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted 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 purchasing an additional 119 shares during the period. Grove Bank & Trust boosted its holdings 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 buying an additional 122 shares in the last quarter. Adero Partners LLC grew its position in Boston Scientific by 3.6% during the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after buying an additional 127 shares during the period. Finally, Ashton Thomas Securities LLC increased its holdings in Boston Scientific by 1.3% in the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after buying an additional 129 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $100.29 on Thursday. The business’s fifty day simple moving average is $91.68 and its 200-day simple moving average is $85.04. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a market cap of $147.81 billion, a PE ratio of 82.88, a price-to-earnings-growth ratio of 2.64 and a beta of 0.80. Boston Scientific Co. has a 52 week low of $59.85 and a 52 week high of $101.65.

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

Insider Activity at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction that occurred 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,989 shares of company stock worth $2,702,261. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of analyst reports. Mizuho raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup upped their target price on Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. 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 research note on Thursday, October 24th. Truist Financial upped their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company lifted their target price on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. 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, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average 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.