Gibbs Wealth Management Buys New Position in Boston Scientific Corporation $BSX

Gibbs Wealth Management acquired a new stake in Boston Scientific Corporation (NYSE:BSX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,750 shares of the medical equipment provider’s stock, valued at approximately $1,050,000.

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

Insider Activity at Boston Scientific

In other Boston Scientific news, Director Ellen M. Zane sold 12,891 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total value of $1,266,927.48. Following the completion of the sale, the director owned 24,134 shares of the company’s stock, valued at $2,371,889.52. This trade represents a 34.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the executive vice president directly owned 23,600 shares in the company, valued at approximately $2,396,580. The trade was a 42.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 93,095 shares of company stock worth $9,305,450. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BSX. TD Cowen reiterated a “buy” rating on shares of Boston Scientific in a research note on Thursday, December 11th. Barclays lifted their price target on shares of Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Citigroup reiterated a “buy” rating on shares of Boston Scientific in a research report on Wednesday, January 14th. Leerink Partners boosted their target price on shares of Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Finally, Royal Bank Of Canada raised their price target on shares of Boston Scientific from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.89.

Boston Scientific Stock Up 1.4%

Shares of NYSE BSX opened at $92.56 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $137.22 billion, a PE ratio of 49.50, a P/E/G ratio of 1.62 and a beta of 0.67. The firm has a fifty day moving average of $95.70 and a 200-day moving average of $99.87. Boston Scientific Corporation has a 52-week low of $85.98 and a 52-week high of $109.50.

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

Boston Scientific Company 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.