Argentarii LLC Purchases New Stake in Boston Scientific Co. (NYSE:BSX)

Argentarii LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,367 shares of the medical equipment provider’s stock, valued at approximately $2,444,000. Boston Scientific makes up 1.2% of Argentarii LLC’s holdings, making the stock its 18th biggest holding.

Other institutional investors have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Boston Scientific by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after buying an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department acquired a new position in Boston Scientific during the fourth quarter worth $415,000. Highland Capital Management LLC acquired a new position in Boston Scientific during the fourth quarter worth $4,887,000. Covenant Asset Management LLC acquired a new position in Boston Scientific during the fourth quarter worth $3,405,000. Finally, Brookstone Capital Management raised its holdings in Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after purchasing an additional 20,307 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now owns 35,319 shares in the company, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,322 shares of company stock worth $14,321,068. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BSX. Raymond James boosted their price target on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Friday, January 10th. Barclays boosted their price target on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Canaccord Genuity Group boosted their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Argus set a $130.00 target price on Boston Scientific in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $99.15 on Friday. Boston Scientific Co. has a 1-year low of $65.52 and a 1-year high of $107.17. The business has a 50-day moving average of $100.45 and a 200-day moving average of $91.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The company has a market capitalization of $146.33 billion, a price-to-earnings ratio of 79.32, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping 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, equities analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

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.