BankPlus Trust Department Buys New Stake in Boston Scientific Co. (NYSE:BSX)

BankPlus Trust Department purchased a new stake in Boston Scientific Co. (NYSE:BSX) in the 4th quarter, HoldingsChannel reports. The fund purchased 8,238 shares of the medical equipment provider’s stock, valued at approximately $736,000.

Several other hedge funds also recently added to or reduced their stakes in BSX. TFC Financial Management Inc. raised its holdings in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares during the period. Global Wealth Strategies & Associates raised its stake in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the period. West Oak Capital LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth $29,000. Dunhill Financial LLC boosted its stake in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Boston Scientific during the 3rd quarter worth $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In related news, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the transaction, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 139,630 shares of company stock worth $14,467,616 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus increased their target price on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Raymond James upped their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $107.39.

Boston Scientific Stock Performance

BSX opened at $104.44 on Monday. 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 business’s 50 day moving average is $97.98 and its 200-day moving average is $89.49. The stock has a market cap of $154.12 billion, a PE ratio of 83.55, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $65.52 and a twelve month high of $107.17.

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

Boston Scientific 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.