Redhawk Wealth Advisors Inc. Acquires 385 Shares of Boston Scientific Co. (NYSE:BSX)

Redhawk Wealth Advisors Inc. raised its holdings in Boston Scientific Co. (NYSE:BSX) by 10.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,239 shares of the medical equipment provider’s stock after buying an additional 385 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Boston Scientific were worth $428,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. TFC Financial Management Inc. grew its position in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 210 shares during the last quarter. Colonial Trust Co SC boosted its position in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 260 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $26,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $31,000. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BSX. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Citigroup restated a “buy” rating and set a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Royal Bank of Canada lifted their price target on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. BTIG Research restated a “buy” rating and set a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Finally, Truist Financial lifted their price target on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Twenty-one equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific presently has an average rating of “Buy” and an average target price of $116.00.

Insiders Place Their Bets

In related news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the sale, the executive vice president now owns 18,705 shares of the company’s stock, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the sale, the executive vice president now directly owns 22,235 shares in the company, valued at $2,269,304.10. This trade represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,970 shares of company stock worth $42,406,693 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Trading Up 0.0%

Shares of NYSE:BSX opened at $99.38 on Thursday. The company has a market cap of $147.03 billion, a P/E ratio of 79.50, a PEG ratio of 2.79 and a beta of 0.68. 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 1 year low of $71.88 and a 1 year high of $107.17. The stock’s fifty day moving average price is $100.70 and its 200-day moving average price is $98.55.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 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%. Boston Scientific’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 earnings per share. Sell-side 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.