Boston Scientific Co. (NYSE:BSX) Shares Bought by SouthState Corp

SouthState Corp grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.9% in the fourth quarter, HoldingsChannel reports. The fund owned 160,710 shares of the medical equipment provider’s stock after buying an additional 2,977 shares during the quarter. SouthState Corp’s holdings in Boston Scientific were worth $14,355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. TFC Financial Management Inc. increased its position in Boston Scientific by 308.8% during the 4th 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 increased its position in 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 purchasing an additional 250 shares in the last quarter. West Oak Capital LLC acquired a new stake in Boston Scientific during the 4th quarter worth approximately $29,000. Dunhill Financial LLC increased its position in Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares in the last quarter. Finally, Valley National Advisers Inc. increased its position in Boston Scientific by 262.4% during 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 in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares of the company’s stock, valued at approximately $2,704,845.33. This trade represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock valued at $14,319,269 over the last 90 days. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BSX. Stifel Nicolaus increased their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Friday, January 10th. Raymond James increased their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Finally, Barclays increased their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.91.

Boston Scientific Stock Performance

Boston Scientific stock opened at $97.26 on Monday. The company has a market cap of $143.53 billion, a PE ratio of 77.81, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a fifty day moving average price of $101.05 and a two-hundred day moving average price of $91.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 12 month low of $66.16 and a 12 month high of $107.17.

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

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.