Millstone Evans Group LLC Acquires New Position in Boston Scientific Co. (NYSE:BSX)

Millstone Evans Group LLC bought a new position in shares of Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 580 shares of the medical equipment provider’s stock, valued at approximately $52,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. HUB Investment Partners LLC raised its position in Boston Scientific by 24.6% during the fourth quarter. HUB Investment Partners LLC now owns 4,289 shares of the medical equipment provider’s stock worth $383,000 after acquiring an additional 846 shares during the last quarter. Whittier Trust Co. raised its position in Boston Scientific by 4.4% during the fourth quarter. Whittier Trust Co. now owns 6,101 shares of the medical equipment provider’s stock worth $545,000 after acquiring an additional 257 shares during the last quarter. Northwest & Ethical Investments L.P. raised its position in Boston Scientific by 0.4% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 74,428 shares of the medical equipment provider’s stock worth $6,647,000 after acquiring an additional 330 shares during the last quarter. iA Global Asset Management Inc. raised its position in Boston Scientific by 6.4% during the fourth quarter. iA Global Asset Management Inc. now owns 180,367 shares of the medical equipment provider’s stock worth $16,110,000 after acquiring an additional 10,840 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in Boston Scientific by 44.4% during the fourth quarter. Teacher Retirement System of Texas now owns 693,941 shares of the medical equipment provider’s stock worth $61,983,000 after acquiring an additional 213,531 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Daniel J. Brennan sold 67,333 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the transaction, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the business’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 transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock worth $14,319,269 over the last ninety days. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

BSX opened at $100.66 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week high of $107.17. The company has a 50 day moving average of $101.68 and a two-hundred day moving average of $92.50. The company has a market cap of $148.89 billion, a P/E ratio of 80.53, a P/E/G ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping 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%. On average, analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Citigroup lifted their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Canaccord Genuity Group lifted their price target 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. Finally, StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Two 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific Company 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.