Gen Wealth Partners Inc Acquires New Position in Boston Scientific Co. (NYSE:BSX)

Gen Wealth Partners Inc bought a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 810 shares of the medical equipment provider’s stock, valued at approximately $72,000.

Several other institutional investors also recently bought and sold shares of the stock. TFC Financial Management Inc. lifted its holdings in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares during the last quarter. Colonial Trust Co SC increased its holdings in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 260 shares during the period. West Oak Capital LLC purchased a new stake in Boston Scientific during the fourth quarter valued at approximately $29,000. Valley National Advisers Inc. increased its position in Boston Scientific by 262.4% during the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 286 shares in the last quarter. Finally, Fairway Wealth LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $36,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now owns 36,193 shares of the company’s stock, valued at $3,441,592.37. This represents a 11.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 300,497 shares of company stock valued at $31,056,815 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Performance

NYSE BSX opened at $102.87 on Friday. The stock has a market capitalization of $152.19 billion, a price-to-earnings ratio of 82.30, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The stock has a 50-day moving average of $98.68 and a 200 day moving average of $95.99. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. Sell-side analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Piper Sandler lifted their target price 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. Stifel Nicolaus boosted their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Wells Fargo & Company raised their target price on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research note on Thursday. Finally, Evercore ISI raised their price objective on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Twenty-three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $114.52.

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.