NWK Group Inc. Increases Stake in Boston Scientific Co. (NYSE:BSX)

NWK Group Inc. grew its position in Boston Scientific Co. (NYSE:BSX) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,724 shares of the medical equipment provider’s stock after acquiring an additional 1,571 shares during the period. Boston Scientific comprises 2.6% of NWK Group Inc.’s portfolio, making the stock its 17th largest holding. NWK Group Inc.’s holdings in Boston Scientific were worth $6,764,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Mechanics Bank Trust Department purchased a new stake in shares of Boston Scientific during the 4th quarter worth approximately $415,000. Highland Capital Management LLC purchased a new stake in Boston Scientific during the fourth quarter worth $4,887,000. Covenant Asset Management LLC acquired a new stake in Boston Scientific in the fourth quarter valued at $3,405,000. Brookstone Capital Management increased its position in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after buying an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. raised its stake in shares of Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after buying an additional 4,702 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In related news, CFO Daniel J. Brennan sold 15,087 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the sale, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,183 shares of company stock worth $13,948,476 over the last 90 days. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

BSX has been the subject of a number of research reports. Argus set a $130.00 target price on shares of Boston Scientific in a research report on Tuesday, February 18th. Royal Bank of Canada upped 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. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research report on Friday, January 10th. Finally, UBS Group lifted their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. One investment 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 MarketBeat.com, Boston Scientific presently has a consensus rating of “Buy” and an average target price of $110.22.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $95.08 on Friday. The company has a market cap of $140.63 billion, a P/E ratio of 76.06, a PEG ratio of 2.79 and a beta of 0.73. The business’s 50-day simple moving average is $99.46 and its 200 day simple moving average is $94.34. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. On average, sell-side analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal 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.