GeoWealth Management LLC Acquires 1,147 Shares of Boston Scientific Co. (NYSE:BSX)

GeoWealth Management LLC increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 11.1% in the fourth quarter, HoldingsChannel.com reports. 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 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Mechanics Bank Trust Department bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $415,000. Highland Capital Management LLC purchased a new stake in Boston Scientific in the fourth quarter worth $4,887,000. Covenant Asset Management LLC bought a new stake in shares of Boston Scientific in the fourth quarter valued at $3,405,000. Brookstone Capital Management lifted its position in shares of Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after buying an additional 20,307 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. grew its stake in shares of Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after acquiring an additional 4,702 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In related news, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the sale, the chief financial officer now owns 241,451 shares in the company, valued at $25,369,256.57. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,183 shares of company stock valued at $13,948,476 in the last quarter. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the topic of several recent research reports. Citigroup upped 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. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Piper Sandler raised their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley boosted their price objective on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, UBS Group raised their target price on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $110.22.

Boston Scientific Stock Down 0.2 %

Shares of NYSE:BSX opened at $95.08 on Friday. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock’s 50-day moving average price is $99.46 and its 200-day moving average price is $94.41. The stock has a market capitalization of $140.63 billion, a P/E ratio of 76.06, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. On average, equities analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

About Boston Scientific

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.