Grove Bank & Trust Grows Stake in Boston Scientific Co. (NYSE:BSX)

Grove Bank & Trust raised its position in Boston Scientific Co. (NYSE:BSX) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,923 shares of the medical equipment provider’s stock after acquiring an additional 122 shares during the quarter. Grove Bank & Trust’s holdings in Boston Scientific were worth $261,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BSX. CRA Financial Services LLC boosted its stake in Boston Scientific by 4.3% during the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after purchasing an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Boston Scientific by 9.7% during the third 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 buying an additional 119 shares in the last quarter. Adero Partners LLC raised its position in Boston Scientific by 3.6% in the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock worth $303,000 after acquiring an additional 127 shares in the last quarter. Ashton Thomas Securities LLC lifted its holdings in Boston Scientific by 1.3% in the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after acquiring an additional 129 shares during the last quarter. Finally, Jacobsen Capital Management raised its holdings in shares of Boston Scientific by 4.9% in the 3rd quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock worth $236,000 after purchasing an additional 133 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Trading Up 0.6 %

Shares of NYSE:BSX opened at $98.73 on Monday. Boston Scientific Co. has a 1 year low of $59.85 and a 1 year high of $99.14. The firm has a fifty day moving average price of $91.00 and a 200 day moving average price of $84.54. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $145.52 billion, a PE ratio of 81.60, a P/E/G ratio of 2.48 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data 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. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. Analysts expect that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction 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. The trade was a 10.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,989 shares of company stock worth $2,702,261. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BSX shares. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Bank of America boosted their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. TD Cowen boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Truist Financial raised their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.26.

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.