Proficio Capital Partners LLC Purchases 472,539 Shares of Boston Scientific Co. (NYSE:BSX)

Proficio Capital Partners LLC lifted its stake in Boston Scientific Co. (NYSE:BSX) by 12,418.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 476,344 shares of the medical equipment provider’s stock after purchasing an additional 472,539 shares during the quarter. Proficio Capital Partners LLC’s holdings in Boston Scientific were worth $42,547,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Boston Scientific by 4.4% in the 3rd 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 in the last quarter. Mechanics Bank Trust Department bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $415,000. Highland Capital Management LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $4,887,000. Covenant Asset Management LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $3,405,000. Finally, Brookstone Capital Management boosted its position in shares of Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after purchasing an additional 20,307 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Daniel J. Brennan sold 15,087 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the transaction, the chief financial officer now owns 241,451 shares of the company’s stock, 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 SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction on 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 directly owns 35,319 shares of the company’s stock, valued at $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 sold 144,305 shares of company stock valued at $14,954,985. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BSX. TD Cowen boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Morgan Stanley boosted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Raymond James boosted their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Piper Sandler boosted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Citigroup boosted their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of “Buy” and a consensus price target of $108.91.

Boston Scientific Trading Up 3.2 %

NYSE:BSX opened at $104.02 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The firm has a market capitalization of $153.51 billion, a price-to-earnings ratio of 83.21, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a one year low of $65.52 and a one year high of $107.17. The business has a fifty day moving average price of $99.28 and a 200-day moving average price of $90.22.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Sell-side analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current year.

About Boston Scientific

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.