Fourth Dimension Wealth LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Fourth Dimension Wealth LLC acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 400 shares of the medical equipment provider’s stock, valued at approximately $36,000.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Boston Scientific during the 4th quarter valued at $1,762,522,000. Capital World Investors increased its position in Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the period. Wellington Management Group LLP raised its stake in 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 worth $3,230,293,000 after buying an additional 3,344,571 shares during the last quarter. Axiom Investors LLC DE raised its position in shares of Boston Scientific by 208.2% in the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock worth $335,167,000 after acquiring an additional 2,535,007 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Boston Scientific by 18.0% during the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider’s stock worth $1,303,681,000 after purchasing an additional 2,221,790 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Down 0.0%

Shares of Boston Scientific stock opened at $104.49 on Friday. The company has a 50 day simple moving average of $99.97 and a two-hundred day simple moving average of $97.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The firm has a market cap of $154.59 billion, a PE ratio of 83.59, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the company posted $0.56 EPS. Boston Scientific’s quarterly revenue was up 20.9% compared to the same quarter last year. Analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the completion of the sale, the chief executive officer now owns 1,535,706 shares of the company’s stock, valued at $157,379,150.88. This represents a 9.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,830 shares of company stock valued at $20,043,415. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on BSX. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Robert W. Baird increased their price target on Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Argus set a $130.00 price objective on shares of Boston Scientific in a research note on Tuesday, February 18th. BTIG Research reaffirmed a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada lifted their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Twenty-three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $114.87.

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.