WealthPlan Investment Management LLC Invests $204,000 in Boston Scientific Co. (NYSE:BSX)

WealthPlan Investment Management LLC purchased a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,983 shares of the medical equipment provider’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also modified their holdings of BSX. Pinnacle Associates Ltd. raised its stake in shares of Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after acquiring an additional 148 shares in the last quarter. KCM Investment Advisors LLC increased its position in shares of Boston Scientific by 1.7% during the first quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock worth $632,000 after purchasing an additional 150 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of Boston Scientific by 24.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 826 shares of the medical equipment provider’s stock worth $57,000 after purchasing an additional 160 shares in the last quarter. BSW Wealth Partners increased its position in shares of Boston Scientific by 2.3% during the fourth quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock worth $428,000 after purchasing an additional 165 shares in the last quarter. Finally, Allstate Corp increased its position in shares of Boston Scientific by 2.9% during the fourth quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock worth $343,000 after purchasing an additional 165 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Charles J. Dockendorff sold 3,946 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares in the company, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,854 shares of company stock worth $3,366,983. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BSX shares. Evercore ISI raised their price target on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. TD Cowen raised their price target on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley lifted their price objective on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Mizuho lifted their price objective on Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, Canaccord Genuity Group lifted their price objective on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.76.

Boston Scientific Stock Up 1.7 %

Boston Scientific stock traded up $1.28 during trading on Thursday, reaching $75.16. 5,946,248 shares of the company’s stock were exchanged, compared to its average volume of 6,339,827. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The company’s 50-day moving average is $76.43 and its two-hundred day moving average is $70.71. The firm has a market cap of $110.27 billion, a price-to-earnings ratio of 62.67, a PEG ratio of 2.45 and a beta of 0.78. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $79.43.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. On average, analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current 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.