BankPlus Wealth Management LLC Buys New Position in Boston Scientific Co. (NYSE:BSX)

BankPlus Wealth Management LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,931 shares of the medical equipment provider’s stock, valued at approximately $262,000.

A number of other hedge funds have also added to or reduced their stakes in BSX. Nilsine Partners LLC increased its position in shares of Boston Scientific by 9.0% during the fourth quarter. Nilsine Partners LLC now owns 5,285 shares of the medical equipment provider’s stock valued at $472,000 after buying an additional 437 shares during the period. Foundations Investment Advisors LLC bought a new stake in Boston Scientific during the 4th quarter valued at approximately $296,000. Pacer Advisors Inc. grew its holdings in shares of Boston Scientific by 21.8% during the 4th quarter. Pacer Advisors Inc. now owns 138,057 shares of the medical equipment provider’s stock worth $12,331,000 after acquiring an additional 24,754 shares during the period. Cornerstone Wealth Group LLC raised its position in shares of Boston Scientific by 8.0% in the 4th quarter. Cornerstone Wealth Group LLC now owns 2,762 shares of the medical equipment provider’s stock worth $247,000 after acquiring an additional 205 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Boston Scientific by 1.8% during the fourth quarter. KBC Group NV now owns 2,380,521 shares of the medical equipment provider’s stock valued at $212,627,000 after purchasing an additional 41,720 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,989 shares of company stock worth $2,702,261. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

NYSE BSX opened at $102.22 on Tuesday. The company has a 50-day moving average price of $92.26 and a 200-day moving average price of $85.45. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $150.65 billion, a P/E ratio of 84.48, a PEG ratio of 2.63 and a beta of 0.80. Boston Scientific Co. has a 52 week low of $60.78 and a 52 week high of $102.32.

Analyst Ratings Changes

A number of equities analysts have issued reports on BSX shares. Mizuho increased their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Bank of America lifted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Truist Financial boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.26.

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.