Perigon Wealth Management LLC Invests $251,000 in Boston Scientific Co. (NYSE:BSX)

Perigon Wealth Management LLC acquired a new position in shares of Boston Scientific Co. (NYSE:BSX – Get Rating) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,475 shares of the medical equipment provider’s stock, valued at approximately $251,000.

Several other hedge funds have also modified their holdings of BSX. CoreCap Advisors LLC purchased a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $27,000. Acadian Asset Management LLC purchased a new stake in shares of Boston Scientific during the 1st quarter worth approximately $35,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Boston Scientific by 68.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,000 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 406 shares in the last quarter. CVA Family Office LLC raised its holdings in Boston Scientific by 952.6% during the 3rd quarter. CVA Family Office LLC now owns 1,000 shares of the medical equipment provider’s stock valued at $39,000 after buying an additional 905 shares during the period. Finally, Adirondack Trust Co. raised its holdings in Boston Scientific by 126.0% during the 3rd quarter. Adirondack Trust Co. now owns 1,130 shares of the medical equipment provider’s stock valued at $44,000 after buying an additional 630 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

BSX opened at $47.95 on Friday. Boston Scientific Co. has a 12-month low of $34.98 and a 12-month high of $48.87. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $46.86 and its 200-day simple moving average is $44.24. The company has a market capitalization of $68.80 billion, a price-to-earnings ratio of 106.56, a PEG ratio of 2.26 and a beta of 0.79.

Boston Scientific (NYSE:BSX – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The medical equipment provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Boston Scientific had a net margin of 5.50% and a return on equity of 14.29%. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the previous year, the business earned $0.45 EPS. Boston Scientific’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that Boston Scientific Co. will post 1.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on BSX. Needham & Company LLC increased their price target on Boston Scientific from $48.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. StockNews.com began coverage on Boston Scientific in a report on Thursday. They set a “buy” rating on the stock. Citigroup initiated coverage on Boston Scientific in a report on Tuesday, December 20th. They set a “buy” rating and a $54.00 price target on the stock. Stifel Nicolaus increased their target price on Boston Scientific from $50.00 to $52.00 in a research note on Wednesday, February 1st. Finally, Raymond James increased their target price on Boston Scientific from $54.00 to $56.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 2nd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has a consensus rating of “Buy” and an average price target of $51.50.

Insider Activity at Boston Scientific

In related news, CAO Jonathan Monson sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $46.66, for a total transaction of $233,300.00. Following the sale, the chief accounting officer now owns 34,868 shares of the company’s stock, valued at $1,626,940.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Boston Scientific news, CAO Jonathan Monson sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $46.66, for a total value of $233,300.00. Following the completion of the sale, the chief accounting officer now owns 34,868 shares of the company’s stock, valued at $1,626,940.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 27,000 shares of the firm’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $48.74, for a total value of $1,315,980.00. Following the completion of the sale, the executive vice president now directly owns 23,392 shares of the company’s stock, valued at approximately $1,140,126.08. The disclosure for this sale can be found here. Insiders have sold a total of 115,182 shares of company stock valued at $5,432,674 over the last quarter. 0.71% of the stock is owned by corporate insiders.

About Boston Scientific

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Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical procedures. It operates through the MedSurg and Cardiovascular segments. The MedSurg segment includes Urology and Neuromodulation. The Cardiovascular segment consists of Cardiology and Peripheral Interventions.