Brooklyn FI LLC Invests $642,000 in Boston Scientific Co. (NYSE:BSX)

Brooklyn FI LLC acquired a new position in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,296 shares of the medical equipment provider’s stock, valued at approximately $642,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TFC Financial Management Inc. boosted its stake in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC acquired a new stake in Boston Scientific in the 4th quarter worth approximately $29,000. Dunhill Financial LLC boosted 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 purchasing an additional 152 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its stake in Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,302 shares of company stock valued at $14,319,269. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BSX has been the subject of a number of recent analyst reports. Argus set a $130.00 target price on shares of Boston Scientific in a research note on Tuesday, February 18th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. UBS Group lifted their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Citigroup lifted their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $108.91.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $100.77 on Thursday. The firm has a market cap of $148.72 billion, a PE ratio of 80.62, a PEG ratio of 2.79 and a beta of 0.77. The firm has a fifty day moving average of $101.45 and a 200 day moving average of $92.15. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal 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.