Bowen Hanes & Co. Inc. Purchases Shares of 357,065 Boston Scientific Co. (NYSE:BSX)

Bowen Hanes & Co. Inc. purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 357,065 shares of the medical equipment provider’s stock, valued at approximately $31,893,000.

Several other large investors also recently made changes to their positions in BSX. TFC Financial Management Inc. increased its stake 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 valued at $25,000 after purchasing an additional 210 shares during the period. Dunhill Financial LLC increased its stake in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the period. Global Wealth Strategies & Associates increased its stake in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the period. West Oak Capital LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $29,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 286 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on BSX. Piper Sandler increased their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Monday, March 3rd. Wells Fargo & Company increased their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Canaccord Genuity Group increased their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Citigroup increased their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Trading Up 0.9 %

Boston Scientific stock opened at $96.42 on Thursday. The company has a 50 day moving average price of $100.80 and a 200 day moving average price of $91.52. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a market capitalization of $142.29 billion, a price-to-earnings ratio of 77.14, a P/E/G ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Research analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the sale, the executive vice president now owns 28,454 shares in the company, valued at $2,966,329.50. This represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel J. Brennan sold 67,333 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the sale, the chief financial officer now owns 225,808 shares of the company’s stock, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock worth $14,319,269 in the last quarter. 0.50% of the stock is currently owned by corporate 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.