Highland Capital Management LLC Invests $4.89 Million in Boston Scientific Co. (NYSE:BSX)

Highland Capital Management LLC acquired a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 54,710 shares of the medical equipment provider's stock, valued at approximately $4,887,000.

Several other large investors have also modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Boston Scientific by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock valued at $345,205,000 after acquiring an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department purchased a new position in shares of Boston Scientific during the fourth quarter worth approximately $415,000. Brookstone Capital Management boosted its stake in Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock worth $9,455,000 after purchasing an additional 20,307 shares during the period. Beacon Investment Advisory Services Inc. grew its position in Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock worth $1,744,000 after purchasing an additional 4,702 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Boston Scientific by 5.9% in the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider's stock valued at $168,475,000 after purchasing an additional 111,724 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BSX. StockNews.com upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a research note on Wednesday. Truist Financial lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Needham & Company LLC restated a "hold" rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Citigroup lifted their price objective on shares of Boston Scientific from $98.00 to $107.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada upped their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $97.26.

Insider Activity

In related news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,989 shares of company stock valued at $2,702,261 in the last 90 days. 0.50% of the stock is currently owned by insiders.

Boston Scientific Trading Up 0.4 %

Boston Scientific stock traded up $0.37 during trading on Thursday, hitting $103.08. The company's stock had a trading volume of 3,885,382 shares, compared to its average volume of 5,721,169. The stock's fifty day moving average is $92.99 and its 200 day moving average is $85.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a 1-year low of $62.63 and a 1-year high of $104.25. The stock has a market capitalization of $151.92 billion, a price-to-earnings ratio of 85.37, a P/E/G ratio of 2.63 and a beta of 0.80.

Boston Scientific Company 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.