Legacy Capital Wealth Partners LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Legacy Capital Wealth Partners LLC acquired a new position in Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,107 shares of the medical equipment provider’s stock, valued at approximately $278,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp increased its stake in shares of Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Boston Scientific by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after buying an additional 718,515 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Boston Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after acquiring an additional 480,729 shares during the period. Charles Schwab Investment Management Inc. increased its position in Boston Scientific by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock valued at $671,940,000 after acquiring an additional 64,720 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in Boston Scientific by 17.5% in the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after acquiring an additional 815,403 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on BSX. JPMorgan Chase & Co. upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Wells Fargo & Company lifted their target price on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Sanford C. Bernstein raised 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. Bank of America upped their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Citigroup raised their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $107.39.

Boston Scientific Price Performance

Boston Scientific stock opened at $106.20 on Tuesday. The firm’s fifty day moving average is $96.44 and its 200 day moving average is $88.39. Boston Scientific Co. has a 52-week low of $65.33 and a 52-week high of $107.17. 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 company has a market cap of $156.51 billion, a price-to-earnings ratio of 84.96, a PEG ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its earnings results 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 18.11% and a net margin of 11.07%. Sell-side analysts forecast that Boston Scientific Co. will post 2.83 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 15,087 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares in the company, valued at approximately $25,369,256.57. This represents a 5.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,326 shares of company stock worth $8,673,948 over the last 90 days. Company insiders own 0.50% of the company’s stock.

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.