Marks Group Wealth Management Inc Sells 625 Shares of Boston Scientific Co. (NYSE:BSX)

Marks Group Wealth Management Inc lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 126,423 shares of the medical equipment provider’s stock after selling 625 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Boston Scientific were worth $7,309,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Boston Scientific during the third quarter worth about $1,123,000. CWM LLC boosted its stake in Boston Scientific by 12.8% in the third quarter. CWM LLC now owns 25,219 shares of the medical equipment provider’s stock worth $1,332,000 after buying an additional 2,855 shares in the last quarter. AE Wealth Management LLC grew its position in Boston Scientific by 9.9% during the third quarter. AE Wealth Management LLC now owns 34,374 shares of the medical equipment provider’s stock valued at $1,815,000 after acquiring an additional 3,091 shares during the last quarter. IFP Advisors Inc grew its position in Boston Scientific by 29.1% during the third quarter. IFP Advisors Inc now owns 5,026 shares of the medical equipment provider’s stock valued at $265,000 after acquiring an additional 1,132 shares during the last quarter. Finally, HB Wealth Management LLC raised its stake in shares of Boston Scientific by 29.7% during the third quarter. HB Wealth Management LLC now owns 18,667 shares of the medical equipment provider’s stock worth $986,000 after acquiring an additional 4,279 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Raymond James increased their target price on shares of Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a report on Thursday, February 1st. Wells Fargo & Company boosted their target price on Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. TD Cowen boosted their price objective on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Finally, Royal Bank of Canada raised their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Two 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 stock has an average rating of “Moderate Buy” and an average target price of $68.50.

Boston Scientific Stock Up 1.0 %

Shares of BSX traded up $0.69 on Monday, reaching $68.02. The stock had a trading volume of 7,649,312 shares, compared to its average volume of 6,393,840. The firm has a market capitalization of $99.79 billion, a price-to-earnings ratio of 63.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The company has a 50-day simple moving average of $67.31 and a 200-day simple moving average of $60.07. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $69.21. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32.

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

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction dated 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. Over the last quarter, insiders have sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is currently owned by company insiders.

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.