Arete Wealth Advisors LLC Acquires New Holdings in Boston Scientific Co. (NYSE:BSX)

Arete Wealth Advisors LLC bought a new position in Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,448 shares of the medical equipment provider’s stock, valued at approximately $308,000.

Several other hedge funds also recently modified their holdings of the business. TFC Financial Management Inc. boosted its holdings in Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in shares of Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares in the last quarter. West Oak Capital LLC acquired a new position in shares of Boston Scientific during the 4th quarter valued at about $29,000. Dunhill Financial LLC raised its stake in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 286 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Canaccord Genuity Group lifted their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Royal Bank of Canada lifted their price objective on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Piper Sandler increased their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Stock Down 8.9 %

Shares of NYSE BSX opened at $89.78 on Monday. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week 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. The business has a fifty day moving average of $101.90 and a two-hundred day moving average of $93.71. The stock has a market cap of $132.78 billion, a PE ratio of 71.82, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last announced its quarterly 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%. As a group, equities research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 6,528 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the transaction, the executive vice president now owns 26,449 shares in the company, valued at $2,776,351.53. This represents a 19.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the sale, the director now owns 24,398 shares of the company’s stock, valued at $2,573,501.04. The trade was a 32.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,183 shares of company stock worth $13,948,476 in the last three months. Insiders own 0.50% of the company’s stock.

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.