Verdence Capital Advisors LLC Makes New $223,000 Investment in Boston Scientific Co. (NYSE:BSX)

Verdence Capital Advisors LLC purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,866 shares of the medical equipment provider’s stock, valued at approximately $223,000.

Several other institutional investors have also recently made changes to their positions in the business. FMR LLC raised its position in Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after acquiring an additional 8,045,263 shares during the period. Vanguard Group Inc. raised its holdings in Boston Scientific by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock worth $6,534,969,000 after purchasing an additional 1,525,432 shares during the period. Wellington Management Group LLP lifted its position in Boston Scientific by 5.9% during the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after purchasing an additional 2,336,348 shares in the last quarter. Morgan Stanley grew its holdings in Boston Scientific by 2.3% during the third quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock valued at $1,119,378,000 after purchasing an additional 481,891 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Boston Scientific by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 17,207,345 shares of the medical equipment provider’s stock worth $908,548,000 after buying an additional 51,293 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BSX shares. Raymond James boosted their price objective on Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. Evercore ISI increased their price objective on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Needham & Company LLC lifted their target price on shares of Boston Scientific from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Wells Fargo & Company upped their target price on shares of Boston Scientific from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. raised their price target on Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.50.

Boston Scientific Stock Up 1.4 %

Shares of NYSE:BSX opened at $68.99 on Wednesday. The company has a market cap of $101.22 billion, a price-to-earnings ratio of 64.48, a PEG ratio of 2.36 and a beta of 0.78. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $69.21. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $67.39 and a 200 day moving average price of $60.19.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the company earned $0.45 EPS. As a group, equities research analysts predict that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the transaction, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock worth $3,418,529 over the last quarter. Insiders own 0.50% of the company’s stock.

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.