Gladstone Institutional Advisory LLC Takes $239,000 Position in Boston Scientific Co. (NYSE:BSX)

Gladstone Institutional Advisory LLC acquired a new stake in Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,140 shares of the medical equipment provider’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BSX. PNC Financial Services Group Inc. boosted its position in shares of Boston Scientific by 5.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,187,692 shares of the medical equipment provider’s stock worth $68,660,000 after purchasing an additional 66,166 shares in the last quarter. Norges Bank bought a new stake in Boston Scientific in the fourth quarter valued at $930,626,000. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of Boston Scientific by 4.2% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 12,903 shares of the medical equipment provider’s stock worth $746,000 after buying an additional 525 shares in the last quarter. Mizuho Markets Americas LLC boosted its holdings in Boston Scientific by 55.1% during the fourth quarter. Mizuho Markets Americas LLC now owns 562,696 shares of the medical equipment provider’s stock worth $32,529,000 after buying an additional 200,000 shares in the last quarter. Finally, TrinityPoint Wealth LLC grew its holdings in shares of Boston Scientific by 5.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 12,546 shares of the medical equipment provider’s stock valued at $725,000 after buying an additional 697 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Shares of BSX traded up $1.25 during trading hours on Friday, hitting $75.63. The company’s stock had a trading volume of 4,786,625 shares, compared to its average volume of 6,277,577. The company has a market cap of $110.96 billion, a price-to-earnings ratio of 63.56, a PEG ratio of 2.56 and a beta of 0.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The business has a 50 day simple moving average of $70.61 and a two-hundred day simple moving average of $63.70. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $76.25.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. On average, equities analysts expect that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 9,818 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the sale, the director now directly owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $66.35, for a total value of $463,322.05. Following the transaction, the executive vice president now owns 53,788 shares in the company, valued at $3,568,833.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction on Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the sale, the director now owns 41,374 shares in the company, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,616 shares of company stock valued at $4,819,057. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of several recent research reports. Mizuho boosted their target price on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Oppenheimer increased their target price on Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, February 1st. Argus upped their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company increased their target price on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $75.41.

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.