Headland Capital LLC Makes New Investment in Boston Scientific Co. (NYSE:BSX)

Headland Capital LLC purchased a new position in Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 88,886 shares of the medical equipment provider’s stock, valued at approximately $7,939,000. Boston Scientific accounts for 2.7% of Headland Capital LLC’s portfolio, making the stock its 13th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TFC Financial Management Inc. grew its position in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares during the last quarter. Global Wealth Strategies & Associates lifted its stake in shares of Boston Scientific by 423.7% in 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 during the period. West Oak Capital LLC acquired a new stake in shares of Boston Scientific in the 4th quarter worth approximately $29,000. Valley National Advisers Inc. lifted its stake in Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 286 shares during the last quarter. Finally, Fairway Wealth LLC acquired a new stake in Boston Scientific during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.5 %

BSX opened at $102.69 on Wednesday. The company has a market capitalization of $151.89 billion, a P/E ratio of 82.15, a P/E/G ratio of 2.79 and a beta of 0.73. The firm’s fifty day moving average price is $98.56 and its two-hundred day moving average price is $95.08. Boston Scientific Co. has a fifty-two week low of $70.97 and a fifty-two week high of $107.17. 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 (NYSE:BSX) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business’s revenue was up 20.9% on a year-over-year basis. During the same period last year, the business earned $0.56 earnings per share. On average, analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at $3,441,592.37. The trade was a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction dated 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 directly owns 241,451 shares of the company’s stock, valued at $25,369,256.57. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,009 shares of company stock valued at $14,407,381. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BSX has been the subject of several research analyst reports. BTIG Research restated a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Robert W. Baird upped their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. UBS Group boosted their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Truist Financial boosted their price target on Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Finally, Citigroup boosted their price target on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Twenty-three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $114.52.

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.