Buckley Wealth Management LLC Decreases Stock Position in Boston Scientific Co. (NYSE:BSX)

Buckley Wealth Management LLC cut its holdings in Boston Scientific Co. (NYSE:BSX) by 11.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,258 shares of the medical equipment provider’s stock after selling 533 shares during the period. Buckley Wealth Management LLC’s holdings in Boston Scientific were worth $380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parnassus Investments LLC raised its stake in Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after purchasing an additional 97 shares during the last quarter. Madison Investment Advisors LLC acquired a new position in Boston Scientific in the 4th quarter valued at about $263,000. Impact Capital Partners LLC acquired a new position in Boston Scientific in the 4th quarter valued at about $292,000. Commonwealth Equity Services LLC raised its stake in Boston Scientific by 7.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 227,915 shares of the medical equipment provider’s stock valued at $20,357,000 after purchasing an additional 16,054 shares during the last quarter. Finally, PGGM Investments raised its stake in Boston Scientific by 47.0% in the 4th quarter. PGGM Investments now owns 192,025 shares of the medical equipment provider’s stock valued at $17,152,000 after purchasing an additional 61,413 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares in the company, 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. In the last three months, insiders sold 137,302 shares of company stock worth $14,319,269. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BSX shares. Truist Financial boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. TD Cowen boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Barclays upped their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Finally, Argus set a $130.00 price objective on shares of Boston Scientific in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.91.

Boston Scientific Stock Up 2.0 %

NYSE BSX opened at $97.26 on Friday. The stock has a market cap of $143.53 billion, a PE ratio of 77.81, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a fifty-two week low of $65.87 and a fifty-two week high of $107.17. The business has a 50 day moving average price of $101.05 and a two-hundred day moving average price of $91.67. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS 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%. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Boston Scientific Company 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.