Amplius Wealth Advisors LLC Makes New Investment in Boston Scientific Co. (NYSE:BSX)

Amplius Wealth Advisors LLC purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,257 shares of the medical equipment provider’s stock, valued at approximately $202,000.

Several other hedge funds have also made changes to their positions in the company. Global Wealth Strategies & Associates lifted its holdings in shares of Boston Scientific by 423.7% in 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 in the last quarter. West Oak Capital LLC acquired a new position in Boston Scientific during the fourth quarter valued at $29,000. Dunhill Financial LLC lifted its stake in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Boston Scientific during the 3rd quarter worth about $28,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Boston Scientific during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.6 %

BSX opened at $98.73 on Tuesday. The business has a 50 day moving average of $91.00 and a 200-day moving average of $84.60. The stock has a market capitalization of $145.52 billion, a price-to-earnings ratio of 81.60, a P/E/G ratio of 2.48 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 1-year low of $59.85 and a 1-year high of $99.14.

Boston Scientific (NYSE:BSX) last posted 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 company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Activity at Boston Scientific

In other news, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the sale, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,989 shares of company stock worth $2,702,261 over the last three months. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on BSX shares. Bank of America raised their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Truist Financial lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Mizuho upped their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three equities 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. Based on data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $97.26.

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.