Essex Financial Services Inc. Boosts Stake in Boston Scientific Co. (NYSE:BSX)

Essex Financial Services Inc. lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 13.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,621 shares of the medical equipment provider’s stock after buying an additional 303 shares during the period. Essex Financial Services Inc.’s holdings in Boston Scientific were worth $234,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Values First Advisors Inc. bought a new stake in Boston Scientific during the third quarter worth $28,000. Dunhill Financial LLC raised its stake in shares of Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares during the period. Global Wealth Strategies & Associates boosted its holdings in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the last quarter. West Oak Capital LLC bought a new position in Boston Scientific during the fourth quarter valued at about $29,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Boston Scientific during the third quarter worth about $30,000. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BSX. Stifel Nicolaus boosted their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. TD Cowen increased their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Royal Bank of Canada boosted their target price on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Piper Sandler upped their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James lifted their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $107.39.

Insider Activity

In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,326 shares of company stock worth $8,673,948. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Trading Up 0.4 %

Shares of BSX stock opened at $106.16 on Friday. The company has a market capitalization of $156.47 billion, a PE ratio of 84.93, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The business’s fifty day moving average is $95.80 and its 200 day moving average is $87.85. Boston Scientific Co. has a 52-week low of $65.00 and a 52-week high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.83 EPS for the current fiscal year.

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.