Avidian Wealth Enterprises LLC Sells 1,590 Shares of Boston Scientific Co. (NYSE:BSX)

Avidian Wealth Enterprises LLC lessened its position in shares of Boston Scientific Co. (NYSE:BSX) by 33.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,123 shares of the medical equipment provider’s stock after selling 1,590 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Boston Scientific were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BSX. AustralianSuper Pty Ltd increased its holdings in Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after acquiring an additional 2,615,903 shares during the period. State Street Corp increased its holdings in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Boston Scientific by 98.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock worth $184,810,000 after acquiring an additional 1,091,561 shares during the period. Assenagon Asset Management S.A. increased its holdings in Boston Scientific by 32.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,897,117 shares of the medical equipment provider’s stock worth $326,578,000 after acquiring an additional 951,580 shares during the period. Finally, Impax Asset Management Group plc increased its holdings in Boston Scientific by 17.5% during the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after acquiring an additional 815,403 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.4 %

Shares of BSX opened at $106.16 on Friday. The stock has a market capitalization of $156.47 billion, a P/E ratio of 84.93, a PEG ratio of 2.79 and a beta of 0.80. 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 fifty day simple moving average of $95.80 and a two-hundred day simple moving average of $87.85. Boston Scientific Co. has a twelve month low of $65.00 and a twelve month high of $107.17.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. On average, research analysts anticipate that Boston Scientific Co. will post 2.83 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on BSX. Piper Sandler boosted their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Thursday, February 6th. Barclays boosted their price target on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday. Morgan Stanley boosted their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Citigroup boosted their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $107.39.

Insiders Place Their Bets

In other Boston Scientific news, CFO Daniel J. Brennan sold 15,087 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the transaction, the chief financial officer now directly owns 241,451 shares in the company, valued at approximately $25,369,256.57. This represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 87,326 shares of company stock worth $8,673,948. 0.50% of the stock is currently owned by corporate insiders.

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.