Trek Financial LLC Grows Position in Boston Scientific Corporation $BSX

Trek Financial LLC increased its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 23.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,319 shares of the medical equipment provider’s stock after buying an additional 7,934 shares during the period. Trek Financial LLC’s holdings in Boston Scientific were worth $4,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverwater Partners LLC lifted its stake in Boston Scientific by 3.3% during the second quarter. Riverwater Partners LLC now owns 3,104 shares of the medical equipment provider’s stock worth $333,000 after purchasing an additional 98 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management increased its holdings in shares of Boston Scientific by 3.8% in the 2nd quarter. Gerber Kawasaki Wealth & Investment Management now owns 2,711 shares of the medical equipment provider’s stock valued at $291,000 after acquiring an additional 99 shares during the period. Crown Wealth Group LLC boosted its stake in Boston Scientific by 4.7% during the 3rd quarter. Crown Wealth Group LLC now owns 2,238 shares of the medical equipment provider’s stock worth $218,000 after purchasing an additional 100 shares during the period. IVC Wealth Advisors LLC increased its stake in Boston Scientific by 4.9% in the second quarter. IVC Wealth Advisors LLC now owns 2,199 shares of the medical equipment provider’s stock valued at $236,000 after purchasing an additional 102 shares during the period. Finally, Sound View Wealth Advisors Group LLC raised its holdings in shares of Boston Scientific by 3.9% in the second quarter. Sound View Wealth Advisors Group LLC now owns 2,738 shares of the medical equipment provider’s stock valued at $294,000 after buying an additional 103 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Up 1.4%

NYSE BSX traded up $1.27 during trading hours on Friday, reaching $92.56. 13,613,085 shares of the company traded hands, compared to its average volume of 9,193,692. The company has a 50 day moving average of $95.70 and a two-hundred day moving average of $99.87. The stock has a market capitalization of $137.22 billion, a PE ratio of 49.50, a PEG ratio of 1.62 and a beta of 0.67. Boston Scientific Corporation has a 12 month low of $85.98 and a 12 month high of $109.50. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.97 billion. Boston Scientific had a net margin of 14.43% and a return on equity of 19.46%. The company’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. As a group, equities analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the sale, the executive vice president directly owned 23,600 shares of the company’s stock, valued at $2,396,580. The trade was a 42.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $99.47, for a total value of $4,973,500.00. Following the sale, the executive vice president owned 178,342 shares of the company’s stock, valued at $17,739,678.74. The trade was a 21.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 93,095 shares of company stock valued at $9,305,450 over the last ninety days. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BSX shares. Wells Fargo & Company boosted their price objective on shares of Boston Scientific from $124.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Boston Scientific in a research note on Wednesday. UBS Group reiterated a “buy” rating on shares of Boston Scientific in a report on Wednesday, December 17th. Royal Bank Of Canada upped their price objective on shares of Boston Scientific from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $112.00 price target on shares of Boston Scientific in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $123.89.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.