Merit Financial Group LLC Purchases 7,162 Shares of Boston Scientific Co. (NYSE:BSX)

Merit Financial Group LLC increased its position in Boston Scientific Co. (NYSE:BSX) by 8.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 92,274 shares of the medical equipment provider’s stock after buying an additional 7,162 shares during the quarter. Merit Financial Group LLC’s holdings in Boston Scientific were worth $5,334,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BSX. Commonwealth Equity Services LLC increased its position in shares of Boston Scientific by 7.0% during the third quarter. Commonwealth Equity Services LLC now owns 201,364 shares of the medical equipment provider’s stock worth $10,632,000 after acquiring an additional 13,121 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Boston Scientific by 25.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,606 shares of the medical equipment provider’s stock valued at $2,250,000 after purchasing an additional 8,766 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Boston Scientific by 2.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 465,701 shares of the medical equipment provider’s stock worth $24,589,000 after purchasing an additional 12,757 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Boston Scientific by 30.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 492,827 shares of the medical equipment provider’s stock worth $26,021,000 after purchasing an additional 113,832 shares during the last quarter. Finally, Stratos Wealth Advisors LLC bought a new position in shares of Boston Scientific in the third quarter valued at approximately $252,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

BSX traded up $0.83 during trading hours on Friday, hitting $72.86. The stock had a trading volume of 7,452,079 shares, compared to its average volume of 6,661,660. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $74.39. The company’s fifty day simple moving average is $68.30 and its 200 day simple moving average is $61.11. The stock has a market cap of $109.29 billion, a PE ratio of 61.23, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the business earned $0.45 earnings per share. Equities analysts anticipate that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

BSX has been the subject of several recent research reports. Needham & Company LLC upped their price target on Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Oppenheimer increased their target price on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a report on Thursday, February 1st. Royal Bank of Canada raised their price target on shares of Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. TD Cowen upped their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Finally, Barclays lifted their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.09.

Insider Activity at Boston Scientific

In related news, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares in the company, valued at approximately $17,883,756.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,384 shares of company stock worth $5,395,560. 0.50% of the stock is owned by corporate insiders.

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.