Summit Financial LLC Grows Stock Position in Boston Scientific Co. (NYSE:BSX)

Summit Financial LLC raised its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,769 shares of the medical equipment provider’s stock after buying an additional 445 shares during the period. Summit Financial LLC’s holdings in Boston Scientific were worth $912,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BSW Wealth Partners grew its stake in Boston Scientific by 2.3% in the fourth quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock valued at $428,000 after purchasing an additional 165 shares during the last quarter. Valley National Advisers Inc. increased its holdings in Boston Scientific by 2.3% in the 4th quarter. Valley National Advisers Inc. now owns 7,526 shares of the medical equipment provider’s stock worth $435,000 after acquiring an additional 170 shares in the last quarter. Whitaker Myers Wealth Managers LTD. raised its holdings in shares of Boston Scientific by 4.6% during the fourth quarter. Whitaker Myers Wealth Managers LTD. now owns 4,093 shares of the medical equipment provider’s stock valued at $237,000 after acquiring an additional 179 shares during the last quarter. Brighton Jones LLC lifted its holdings in Boston Scientific by 5.4% in the 3rd quarter. Brighton Jones LLC now owns 3,999 shares of the medical equipment provider’s stock valued at $211,000 after purchasing an additional 205 shares in the last quarter. Finally, Altfest L J & Co. Inc. boosted its position in Boston Scientific by 1.6% during the third quarter. Altfest L J & Co. Inc. now owns 13,298 shares of the medical equipment provider’s stock worth $702,000 after acquiring an additional 208 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at $3,032,300.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,797 shares of company stock valued at $4,138,090. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded down $1.15 during midday trading on Thursday, hitting $71.06. The company’s stock had a trading volume of 792,935 shares, compared to its average volume of 6,570,121. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week 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 stock has a market capitalization of $106.59 billion, a price-to-earnings ratio of 60.68, a PEG ratio of 2.47 and a beta of 0.77. The stock’s 50 day simple moving average is $68.20 and its 200 day simple moving average is $61.03.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the business posted $0.45 EPS. As a group, research analysts anticipate that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup increased their price target on shares of Boston Scientific from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Oppenheimer lifted their price target on Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, February 1st. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note 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 note on Thursday, March 7th. Finally, Mizuho raised their price target on Boston Scientific from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $75.09.

Boston Scientific 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.