Brendel Financial Advisors LLC Purchases New Position in Boston Scientific Co. (NYSE:BSX)

by · The Markets Daily

Brendel Financial Advisors LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,815 shares of the medical equipment provider’s stock, valued at approximately $2,038,000.

Other large investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after purchasing an additional 173,034 shares during the period. Brookstone Capital Management boosted its position in Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after purchasing an additional 20,307 shares during the period. HWG Holdings LP bought a new stake in Boston Scientific during the second quarter worth approximately $482,000. Principal Financial Group Inc. boosted its position in Boston Scientific by 5.9% during the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock worth $168,475,000 after purchasing an additional 111,724 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Boston Scientific by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock valued at $289,675,000 after acquiring an additional 30,636 shares during the period. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Sanford C. Bernstein increased their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Bank of America increased their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Mizuho increased their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.26.

Get Our Latest Stock Analysis on Boston Scientific

Insider Activity

In other news, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,989 shares of company stock worth $2,702,261. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Performance

Boston Scientific stock opened at $95.54 on Wednesday. Boston Scientific Co. has a 52-week low of $59.61 and a 52-week high of $97.13. The firm has a market capitalization of $140.81 billion, a P/E ratio of 78.96, a P/E/G ratio of 2.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a fifty day moving average price of $90.36 and a two-hundred day moving average price of $84.15.

Boston Scientific (NYSE:BSX – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Boston Scientific Company Profile

(Free Report)

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.

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