Callan Family Office LLC Takes $768,000 Position in Boston Scientific Co. (NYSE:BSX)

Callan Family Office LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,598 shares of the medical equipment provider’s stock, valued at approximately $768,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Adero Partners LLC increased its stake in Boston Scientific by 3.3% in the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after acquiring an additional 120 shares during the last quarter. Grove Bank & Trust increased its stake in Boston Scientific by 4.4% in the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock valued at $261,000 after acquiring an additional 122 shares during the last quarter. PFG Investments LLC increased its stake in Boston Scientific by 1.6% in the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock valued at $725,000 after acquiring an additional 125 shares during the last quarter. Stonegate Investment Group LLC increased its stake in Boston Scientific by 1.6% in the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock valued at $699,000 after acquiring an additional 126 shares during the last quarter. Finally, Ashton Thomas Securities LLC increased its stake in Boston Scientific by 1.3% in the third 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. 89.07% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Daniel J. Brennan sold 15,087 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares of the company’s stock, valued at $25,369,256.57. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares of the company’s stock, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,322 shares of company stock worth $14,321,068. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

BSX stock opened at $99.15 on Friday. The firm has a market cap of $146.33 billion, a price-to-earnings ratio of 79.32, a PEG ratio of 2.79 and a beta of 0.77. 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 Co. has a 12-month low of $65.52 and a 12-month high of $107.17. The company’s fifty day simple moving average is $100.45 and its 200 day simple moving average is $91.19.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BSX shares. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Stifel Nicolaus boosted their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Piper Sandler boosted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, TD Cowen boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

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.