Wedmont Private Capital Has $1.02 Million Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Wedmont Private Capital boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,914 shares of the medical equipment provider’s stock after acquiring an additional 619 shares during the period. Wedmont Private Capital’s holdings in Boston Scientific were worth $1,024,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Boston Scientific by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock valued at $7,252,253,000 after acquiring an additional 1,681,454 shares during the period. Wellington Management Group LLP increased its stake in Boston Scientific by 5.9% during the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after acquiring an additional 2,336,348 shares during the period. Primecap Management Co. CA increased its stake in Boston Scientific by 1.5% during the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock valued at $2,191,326,000 after acquiring an additional 550,490 shares during the period. Morgan Stanley increased its stake in Boston Scientific by 2.3% during the third quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock valued at $1,119,378,000 after acquiring an additional 481,891 shares during the period. Finally, Norges Bank bought a new position in Boston Scientific during the fourth quarter valued at about $930,626,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. TD Cowen upped their price objective on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Citigroup upped their price objective on Boston Scientific from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Barclays upped their price objective on Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada upped their price objective on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $76.70.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $77.71 on Friday. The firm has a fifty day moving average of $73.90 and a two-hundred day moving average of $66.75. The stock has a market capitalization of $114.01 billion, a price-to-earnings ratio of 65.30, a PEG ratio of 2.63 and a beta of 0.81. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $77.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. As a group, equities research analysts predict that Boston Scientific Co. will post 2.32 EPS for the current year.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,620,617. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,620,617. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’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 completion of the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. Insiders sold a total of 81,627 shares of company stock worth $5,937,353 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

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.