Gerber Kawasaki Wealth & Investment Management Takes $222,000 Position in Boston Scientific Co. (NYSE:BSX)

Gerber Kawasaki Wealth & Investment Management acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 2,482 shares of the medical equipment provider’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Boston Scientific during the fourth quarter valued at approximately $1,762,522,000. Capital World Investors boosted its position in shares of Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after buying an additional 3,344,571 shares during the last quarter. Axiom Investors LLC DE boosted its position in shares of Boston Scientific by 208.2% during the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock valued at $335,167,000 after buying an additional 2,535,007 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Boston Scientific during the fourth quarter valued at approximately $190,780,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of recent analyst reports. Robert W. Baird upped their price objective on Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday. Piper Sandler increased their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Truist Financial raised their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday. Raymond James raised their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Finally, Barclays raised their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $114.52.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 6,528 shares of Boston Scientific stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the transaction, the executive vice president now directly owns 26,449 shares of the company’s stock, valued at approximately $2,776,351.53. This trade represents a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,009 shares of company stock worth $14,407,381 over the last three months. 0.50% of the stock is owned by insiders.

Boston Scientific Price Performance

BSX stock opened at $101.96 on Monday. The firm has a 50 day moving average of $98.68 and a 200-day moving average of $94.92. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 12 month low of $70.97 and a 12 month high of $107.17. The firm has a market capitalization of $150.81 billion, a P/E ratio of 81.57, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.