Marks Group Wealth Management Inc Decreases Position in Boston Scientific Co. (NYSE:BSX)

Marks Group Wealth Management Inc decreased its stake in Boston Scientific Co. (NYSE:BSX) by 0.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 126,423 shares of the medical equipment provider’s stock after selling 625 shares during the period. Marks Group Wealth Management Inc’s holdings in Boston Scientific were worth $7,309,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new position in Boston Scientific during the fourth quarter valued at $28,000. Motco raised its position in Boston Scientific by 136.3% in the 3rd quarter. Motco now owns 645 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 372 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Boston Scientific by 58.0% during the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 215 shares during the period. Asset Dedication LLC raised its holdings in shares of Boston Scientific by 42.6% in the third quarter. Asset Dedication LLC now owns 786 shares of the medical equipment provider’s stock worth $41,000 after buying an additional 235 shares during the period. Finally, CNB Bank bought a new stake in shares of Boston Scientific during the 3rd quarter worth approximately $42,000. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

BSX has been the subject of several research analyst reports. Argus lifted their target price on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Needham & Company LLC lifted their price target 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. JPMorgan Chase & Co. increased their price objective on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Wells Fargo & Company raised their price objective on Boston Scientific from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $68.50.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock valued at $3,418,529 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Up 1.0 %

NYSE BSX traded up $0.69 during trading on Monday, hitting $68.02. The company’s stock had a trading volume of 7,649,312 shares, compared to its average volume of 6,393,840. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $69.21. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The company has a market cap of $99.79 billion, a PE ratio of 63.57, a P/E/G ratio of 2.36 and a beta of 0.78. The business’s 50 day simple moving average is $67.31 and its 200-day simple moving average is $60.07.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the business earned $0.45 EPS. On average, equities analysts anticipate that Boston Scientific Co. will post 2.25 EPS for the current fiscal year.

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.