Turning Point Benefit Group Inc. Takes $309,000 Position in Boston Scientific Co. (NYSE:BSX)

Turning Point Benefit Group Inc. purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,261 shares of the medical equipment provider’s stock, valued at approximately $309,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Boston Scientific by 9.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 119 shares during the period. Adero Partners LLC increased its stake in Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after buying an additional 120 shares during the period. Grove Bank & Trust increased its stake in Boston Scientific by 4.4% during the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after buying an additional 122 shares during the period. PFG Investments LLC increased its stake in Boston Scientific by 1.6% during the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after buying an additional 125 shares during the period. Finally, Stonegate Investment Group LLC increased its stake in Boston Scientific by 1.6% during the 4th quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock worth $699,000 after buying an additional 126 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BSX. Wells Fargo & Company upped their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Stifel Nicolaus upped their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Royal Bank of Canada upped their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. TD Cowen increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Truist Financial increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $107.39.

Boston Scientific Trading Down 0.9 %

Shares of Boston Scientific stock opened at $104.44 on Friday. The company has a fifty day simple moving average of $97.98 and a 200-day simple moving average of $89.27. Boston Scientific Co. has a 12-month low of $65.52 and a 12-month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market cap of $154.12 billion, a price-to-earnings ratio of 83.55, a PEG ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, equities analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares in the company, valued at $87,306.06. This represents a 93.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 153,640 shares of company stock worth $15,718,289 in the last 90 days. Company insiders own 0.50% of the company’s stock.

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.