Marion Wealth Management Makes New $202,000 Investment in Boston Scientific Co. (NYSE:BSX)

Marion Wealth Management purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,262 shares of the medical equipment provider’s stock, valued at approximately $202,000.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Boston Scientific by 2.2% in the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after purchasing an additional 718,515 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Boston Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after buying an additional 480,729 shares in the last quarter. Legal & General Group Plc boosted its holdings in Boston Scientific by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock worth $1,072,195,000 after buying an additional 360,793 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Boston Scientific by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after buying an additional 64,720 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the sale, the director now directly owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,989 shares of company stock worth $2,702,261. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

NYSE BSX traded down $0.10 on Monday, hitting $94.78. 4,213,782 shares of the company’s stock traded hands, compared to its average volume of 5,358,167. The firm has a market capitalization of $139.69 billion, a PE ratio of 78.33, a P/E/G ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 1-year low of $59.61 and a 1-year high of $97.13. The firm’s 50-day moving average price is $89.96 and its two-hundred day moving average price is $83.89. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. As a group, analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BTIG Research increased their target price on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Sanford C. Bernstein boosted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial raised their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Finally, Mizuho boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $97.26.

About Boston Scientific

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.