Congress Asset Management Co. MA Buys Shares of 4,820 Boston Scientific Co. (NYSE:BSX)

Posted by on Mar 28th, 2023

Congress Asset Management Co. MA bought a new stake in shares of Boston Scientific Co. (NYSE:BSX – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,820 shares of the medical equipment provider’s stock, valued at approximately $223,000.

A number of other institutional investors have also added to or reduced their stakes in the business. AdvisorNet Financial Inc grew its holdings in shares of Boston Scientific by 4.0% during the third quarter. AdvisorNet Financial Inc now owns 7,288 shares of the medical equipment provider’s stock worth $282,000 after buying an additional 282 shares in the last quarter. Gilbert & Cook Inc. grew its holdings in shares of Boston Scientific by 2.6% during the third quarter. Gilbert & Cook Inc. now owns 11,246 shares of the medical equipment provider’s stock worth $472,000 after buying an additional 289 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Boston Scientific by 20.6% during the first quarter. Parkside Financial Bank & Trust now owns 1,793 shares of the medical equipment provider’s stock worth $79,000 after buying an additional 306 shares in the last quarter. CENTRAL TRUST Co grew its holdings in shares of Boston Scientific by 3.6% during the third quarter. CENTRAL TRUST Co now owns 8,862 shares of the medical equipment provider’s stock worth $343,000 after buying an additional 310 shares in the last quarter. Finally, SVB Wealth LLC grew its holdings in shares of Boston Scientific by 3.1% during the first quarter. SVB Wealth LLC now owns 11,130 shares of the medical equipment provider’s stock worth $493,000 after buying an additional 336 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BSX shares. StockNews.com started coverage on shares of Boston Scientific in a report on Thursday, March 16th. They set a “buy” rating for the company. Stifel Nicolaus boosted their price target on shares of Boston Scientific from $50.00 to $52.00 in a research report on Wednesday, February 1st. Truist Financial boosted their price target on shares of Boston Scientific from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, December 20th. Citigroup initiated coverage on shares of Boston Scientific in a research report on Tuesday, December 20th. They set a “buy” rating and a $54.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Boston Scientific from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $51.50.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 27,000 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $48.74, for a total transaction of $1,315,980.00. Following the sale, the executive vice president now directly owns 23,392 shares in the company, valued at $1,140,126.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Arthur C. Butcher sold 27,000 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $48.74, for a total transaction of $1,315,980.00. Following the sale, the executive vice president now directly owns 23,392 shares in the company, valued at $1,140,126.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 6,703 shares of the company’s stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $47.97, for a total transaction of $321,542.91. Following the sale, the executive vice president now owns 22,981 shares in the company, valued at $1,102,398.57. The disclosure for this sale can be found here. Insiders have sold 121,885 shares of company stock worth $5,754,217 over the last three months. Company insiders own 0.71% of the company’s stock.

Boston Scientific Stock Up 0.2 %

Shares of NYSE:BSX opened at $48.33 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.51 and a quick ratio of 1.02. The firm has a market capitalization of $69.47 billion, a PE ratio of 107.40, a price-to-earnings-growth ratio of 2.27 and a beta of 0.79. The firm’s 50-day moving average is $47.12 and its two-hundred day moving average is $44.58. Boston Scientific Co. has a 1 year low of $34.98 and a 1 year high of $49.22.

Boston Scientific (NYSE:BSX – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Boston Scientific had a return on equity of 14.29% and a net margin of 5.50%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. Analysts predict that Boston Scientific Co. will post 1.9 EPS for the current year.

Boston Scientific Profile

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Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical procedures. It operates through the MedSurg and Cardiovascular segments. The MedSurg segment includes Urology and Neuromodulation. The Cardiovascular segment consists of Cardiology and Peripheral Interventions.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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