Shelton Wealth Management LLC Acquires 2,457 Shares of Boston Scientific Co. (NYSE:BSX)

Shelton Wealth Management LLC raised its stake in Boston Scientific Co. (NYSE:BSX) by 27.8% in the fourth quarter, Holdings Channel reports. The fund owned 11,284 shares of the medical equipment provider’s stock after purchasing an additional 2,457 shares during the quarter. Shelton Wealth Management LLC’s holdings in Boston Scientific were worth $1,008,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Values First Advisors Inc. acquired a new position in Boston Scientific during the 3rd quarter worth approximately $28,000. Dunhill Financial LLC increased its holdings in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares in the last quarter. Global Wealth Strategies & Associates lifted its stake in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new stake in shares of Boston Scientific during the 4th quarter valued at $29,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in Boston Scientific during the 3rd quarter worth $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $98.73 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $90.79 and its 200-day moving average price is $84.33. The firm has a market capitalization of $145.52 billion, a P/E ratio of 81.60, a P/E/G ratio of 2.48 and a beta of 0.80. Boston Scientific Co. has a 1-year low of $59.85 and a 1-year high of $99.14.

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

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the transaction, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. This represents a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on BSX. Canaccord Genuity Group increased their target price on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Royal Bank of Canada upped their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Evercore ISI lifted their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein increased their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.26.

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.