Drive Wealth Management LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Drive Wealth Management LLC acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,810 shares of the medical equipment provider’s stock, valued at approximately $251,000.

Other hedge funds have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Boston Scientific by 4.4% during the 3rd 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 acquiring an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department acquired a new stake in Boston Scientific in the 4th quarter valued at approximately $415,000. Brookstone Capital Management grew its holdings in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after buying an additional 20,307 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Boston Scientific by 5.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock valued at $168,475,000 after buying an additional 111,724 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. grew its holdings in Boston Scientific by 31.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after buying an additional 4,702 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were 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 directly owns 35,319 shares of the company’s stock, valued at approximately $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 a total of 29,989 shares of company stock valued at $2,702,261 over the last three months. Company insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.3 %

BSX stock opened at $102.22 on Tuesday. The company has a market cap of $150.65 billion, a P/E ratio of 84.48, a PEG ratio of 2.63 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $60.78 and a twelve month high of $102.32. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $92.26 and a 200-day moving average of $85.45.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada raised their target price on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BTIG Research lifted their price objective on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Truist Financial lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Sanford C. Bernstein lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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.