NewEdge Wealth LLC Sells 540 Shares of Boston Scientific Co. (NYSE:BSX)

NewEdge Wealth LLC decreased its holdings in Boston Scientific Co. (NYSE:BSX) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 43,595 shares of the medical equipment provider’s stock after selling 540 shares during the quarter. NewEdge Wealth LLC’s holdings in Boston Scientific were worth $3,894,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BSX. Focus Financial Network Inc. boosted its stake in Boston Scientific by 2.6% during the third quarter. Focus Financial Network Inc. now owns 16,506 shares of the medical equipment provider’s stock valued at $1,383,000 after buying an additional 420 shares during the last quarter. Lebenthal Global Advisors LLC boosted its stake in Boston Scientific by 8.7% during the third quarter. Lebenthal Global Advisors LLC now owns 20,483 shares of the medical equipment provider’s stock valued at $1,716,000 after buying an additional 1,645 shares during the last quarter. Shepherd Financial Partners LLC boosted its stake in Boston Scientific by 1.3% during the third quarter. Shepherd Financial Partners LLC now owns 22,474 shares of the medical equipment provider’s stock valued at $1,883,000 after buying an additional 296 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Boston Scientific by 5.4% during the third quarter. Farther Finance Advisors LLC now owns 11,323 shares of the medical equipment provider’s stock valued at $949,000 after buying an additional 580 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in Boston Scientific during the third quarter valued at approximately $68,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 3.2 %

BSX opened at $104.02 on Friday. The stock’s fifty day moving average is $99.28 and its two-hundred day moving average is $90.22. The company has a market capitalization of $153.51 billion, a P/E ratio of 83.21, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17. 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 (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

BSX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Friday, January 10th. Morgan Stanley raised their price objective on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Piper Sandler raised their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Raymond James raised their price objective on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Finally, UBS Group raised their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $108.91.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the sale, the executive vice president now owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,305 shares of company stock worth $14,954,985 in the last ninety days. 0.50% of the stock is owned by company insiders.

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.