Sherbrooke Park Advisers LLC Has $778,000 Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Sherbrooke Park Advisers LLC lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 161.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,711 shares of the medical equipment provider’s stock after buying an additional 5,385 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Boston Scientific were worth $778,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BSX. Colonial Trust Co SC raised its stake in Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 260 shares in the last quarter. TFC Financial Management Inc. raised its stake in 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 purchasing an additional 210 shares in the last quarter. Valley National Advisers Inc. raised its stake in Boston Scientific by 262.4% in 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. Fairway Wealth LLC acquired a new stake in Boston Scientific in the 4th quarter worth about $36,000. Finally, Global Trust Asset Management LLC raised its stake in Boston Scientific by 64.5% in the 4th quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president now owns 18,705 shares in the company, valued at $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction dated 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 completion of the transaction, the executive vice president now 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 265,820 shares of company stock worth $27,406,958 over the last three months. 0.50% of the stock is owned by insiders.

Boston Scientific Trading Up 1.6%

BSX stock opened at $104.63 on Friday. The firm has a fifty day moving average price of $98.98 and a 200 day moving average price of $96.42. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a market cap of $154.79 billion, a PE ratio of 83.70, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Boston Scientific’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. Sell-side analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on BSX shares. Evercore ISI raised their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Raymond James boosted their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Piper Sandler boosted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Barclays boosted their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Finally, Needham & Company LLC boosted their target price on shares of Boston Scientific from $113.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Twenty-three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average 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.