PFW Advisors LLC Makes New Investment in Boston Scientific Co. (NYSE:BSX)

PFW Advisors LLC acquired a new stake in Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,320 shares of the medical equipment provider’s stock, valued at approximately $207,000.

Other institutional investors also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after purchasing an additional 173,034 shares during the period. HWG Holdings LP acquired a new position in Boston Scientific during the second quarter worth $482,000. Principal Financial Group Inc. lifted its stake in shares of Boston Scientific by 5.9% in the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock valued at $168,475,000 after buying an additional 111,724 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Boston Scientific by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock valued at $289,675,000 after buying an additional 30,636 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Boston Scientific by 153.5% during the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock valued at $16,541,000 after buying an additional 119,525 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Evercore ISI raised their target price on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Morgan Stanley upped their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Truist Financial raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Sanford C. Bernstein upped their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.26.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,989 shares of company stock valued at $2,702,261 over the last three months. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Boston Scientific stock traded down $0.10 during midday trading on Monday, reaching $94.78. The stock had a trading volume of 4,213,795 shares, compared to its average volume of 5,358,214. 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 capitalization of $139.69 billion, a PE ratio of 78.33, a P/E/G ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 12 month low of $59.61 and a 12 month high of $97.13. The firm’s 50-day moving average price is $89.96 and its 200 day moving average price is $83.89.

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