Gilliland Jeter Wealth Management LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Gilliland Jeter Wealth Management LLC purchased a new position in shares of Boston Scientific Co. (NYSE:BSX) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 39,381 shares of the medical equipment provider’s stock, valued at approximately $2,277,000.

A number of other large investors also recently bought and sold shares of BSX. FMR LLC lifted its position in shares of Boston Scientific by 6.8% during the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after purchasing an additional 8,045,263 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Boston Scientific by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock valued at $6,534,969,000 after buying an additional 1,525,432 shares in the last quarter. Wellington Management Group LLP boosted its position in Boston Scientific by 5.9% in the 3rd 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 buying an additional 2,336,348 shares during the period. Morgan Stanley grew its stake in Boston Scientific by 2.3% in the 3rd quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock worth $1,119,378,000 after acquiring an additional 481,891 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Boston Scientific by 0.3% during 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 acquiring an additional 51,293 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Robert W. Baird boosted their price target on Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday. Royal Bank of Canada increased their price target on Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays raised their price target on Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer increased their target price on shares of Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, February 1st. Finally, Argus boosted their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Three 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $75.09.

Insider Activity

In related news, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,979 shares of company stock valued at $3,418,529. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

BSX stock traded down $0.09 during trading on Friday, reaching $73.17. The company had a trading volume of 8,786,294 shares, compared to its average volume of 6,225,924. The company has a market cap of $107.35 billion, a price-to-earnings ratio of 61.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $74.39. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The firm has a 50-day simple moving average of $67.82 and a 200-day simple moving average of $60.56.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.32 earnings per share for the current year.

About Boston Scientific

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.