Verdence Capital Advisors LLC Purchases Shares of 3,866 Boston Scientific Co. (NYSE:BSX)

Verdence Capital Advisors LLC acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,866 shares of the medical equipment provider’s stock, valued at approximately $223,000.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Boston Scientific by 5.6% in the third quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after purchasing an additional 27,620 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Boston Scientific during the 4th quarter worth $5,116,000. Glenmede Trust Co. NA lifted its position in Boston Scientific by 12.1% in the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after acquiring an additional 1,123 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Boston Scientific by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock valued at $98,683,000 after acquiring an additional 38,249 shares in the last quarter. Finally, HealthInvest Partners AB purchased a new position in shares of Boston Scientific during the fourth quarter worth about $3,746,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BSX shares. Oppenheimer upped their target price on Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, February 1st. Raymond James lifted their target price on shares of Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a report on Thursday, February 1st. Needham & Company LLC increased their price target on shares of Boston Scientific from $60.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. TD Cowen raised their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Two 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 company’s stock. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $68.50.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the transaction, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the transaction, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was 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 approximately $3,509,213.40. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock valued at $3,418,529 over the last three months. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Up 1.4 %

Shares of Boston Scientific stock opened at $68.99 on Wednesday. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $69.21. The stock has a market capitalization of $101.22 billion, a price-to-earnings ratio of 64.48, a PEG ratio of 2.36 and a beta of 0.78. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The business’s 50 day simple moving average is $67.39 and its 200-day simple moving average is $60.19.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same quarter last year, the business earned $0.45 earnings per share. Equities research analysts forecast that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Boston Scientific Company 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.