Perigon Wealth Management LLC Takes $251,000 Position in Boston Scientific Co. (NYSE:BSX)

Perigon Wealth Management LLC acquired a new stake in Boston Scientific Co. (NYSE:BSX – Get Rating) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,475 shares of the medical equipment provider’s stock, valued at approximately $251,000.

A number of other large investors also recently modified their holdings of the company. Newport Trust Co raised its stake in Boston Scientific by 5,082.5% in the second quarter. Newport Trust Co now owns 7,401,817 shares of the medical equipment provider’s stock valued at $275,866,000 after purchasing an additional 7,258,993 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Boston Scientific by 24.5% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 20,806,144 shares of the medical equipment provider’s stock valued at $775,455,000 after purchasing an additional 4,088,589 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Boston Scientific by 65.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,430,814 shares of the medical equipment provider’s stock valued at $240,531,000 after purchasing an additional 2,157,849 shares in the last quarter. Impax Asset Management Group plc raised its stake in shares of Boston Scientific by 47.5% during the third quarter. Impax Asset Management Group plc now owns 6,621,133 shares of the medical equipment provider’s stock worth $255,836,000 after acquiring an additional 2,132,468 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of Boston Scientific by 10.6% during the second quarter. Artisan Partners Limited Partnership now owns 19,323,700 shares of the medical equipment provider’s stock worth $720,194,000 after acquiring an additional 1,849,604 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Boston Scientific Stock Performance

NYSE:BSX opened at $47.95 on Friday. The stock has a market cap of $68.80 billion, a P/E ratio of 106.56, a price-to-earnings-growth ratio of 2.26 and a beta of 0.79. The firm’s fifty day simple moving average is $46.86 and its 200 day simple moving average is $44.24. Boston Scientific Co. has a twelve month low of $34.98 and a twelve month high of $48.87. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.51.

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

Analyst Upgrades and Downgrades

BSX has been the topic of several research reports. Citigroup initiated coverage on shares of Boston Scientific in a research note on Tuesday, December 20th. They set a “buy” rating and a $54.00 price target on the stock. Truist Financial lifted their price target on shares of Boston Scientific from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, December 20th. Barclays lifted their price target on shares of Boston Scientific from $49.00 to $53.00 in a research note on Wednesday, January 4th. Mizuho initiated coverage on shares of Boston Scientific in a research note on Thursday, December 22nd. They set a “neutral” rating and a $52.00 price target on the stock. Finally, TheStreet downgraded shares of Boston Scientific from a “b-” rating to a “c” rating in a research note on Monday, November 28th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific has a consensus rating of “Buy” and a consensus price target of $51.50.

Insider Activity

In other news, EVP Arthur C. Butcher sold 27,000 shares of the business’s stock in a transaction 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 owns 23,392 shares in the company, valued at approximately $1,140,126.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Arthur C. Butcher sold 27,000 shares of the business’s stock in a transaction 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 owns 23,392 shares in the company, valued at approximately $1,140,126.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Jonathan Monson sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $46.66, for a total transaction of $233,300.00. Following the sale, the chief accounting officer now owns 34,868 shares in the company, valued at approximately $1,626,940.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,182 shares of company stock worth $5,432,674. Corporate insiders own 0.71% of the company’s stock.

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.