ICA Group Wealth Management LLC Invests $88,000 in Boston Scientific Co. (NYSE:BSX)

ICA Group Wealth Management LLC acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,528 shares of the medical equipment provider’s stock, valued at approximately $88,000.

Several other hedge funds have also made changes to their positions in BSX. Louisiana State Employees Retirement System acquired a new position in Boston Scientific in the fourth quarter valued at $5,116,000. Glenmede Trust Co. NA lifted its stake in shares of Boston Scientific by 12.1% during the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after purchasing an additional 1,123 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Boston Scientific by 10.7% during the fourth quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after purchasing an additional 155,565 shares in the last quarter. Sierra Summit Advisors LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth about $8,038,000. Finally, HealthInvest Partners AB acquired a new position in shares of Boston Scientific during the fourth quarter worth about $3,746,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Evercore ISI boosted their price objective on Boston Scientific from $72.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Wells Fargo & Company lifted their target price on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. TD Cowen lifted their target price on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Finally, The Goldman Sachs Group began coverage on Boston Scientific in a report on Thursday, May 30th. They issued a “buy” rating and a $90.00 price objective for the company. Three equities 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 stock. According to MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.70.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares in the company, valued at $1,521,641.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,627 shares of company stock valued at $5,937,353. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $76.19 on Tuesday. The company has a market cap of $111.78 billion, a PE ratio of 64.03, a P/E/G ratio of 2.64 and a beta of 0.81. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $77.64. The stock has a 50 day simple moving average of $73.24 and a 200-day simple moving average of $66.30.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. On average, equities research analysts forecast that Boston Scientific Co. will post 2.32 EPS 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.