Boston Scientific Co. (NYSE:BSX) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 25.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,416 shares of the medical equipment provider's stock after purchasing an additional 7,282 shares during the period. Avantax Advisory Services Inc.'s holdings in Boston Scientific were worth $3,253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BSX. Raymond James Financial Inc. acquired a new stake in Boston Scientific during the fourth quarter worth about $190,780,000. State Street Corp increased its position in shares of Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares during the last quarter. Fisher Funds Management LTD acquired a new stake in shares of Boston Scientific during the fourth quarter valued at about $94,710,000. Fisher Asset Management LLC increased its position in shares of Boston Scientific by 21.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider's stock valued at $518,138,000 after acquiring an additional 1,028,977 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Boston Scientific by 2.2% during the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider's stock valued at $2,750,385,000 after acquiring an additional 718,515 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Boston Scientific Stock Down 0.6 %

Shares of NYSE:BSX traded down $0.57 during trading on Tuesday, hitting $98.33. 1,113,857 shares of the company were exchanged, compared to its average volume of 6,993,950. The firm's 50 day moving average price is $101.21 and its 200-day moving average price is $91.97. The stock has a market capitalization of $145.12 billion, a P/E ratio of 78.67, a PEG ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares of the company's stock, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares in the company, valued at $2,966,329.50. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock valued at $14,319,269 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BSX. TD Cowen lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Raymond James lifted their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a report on Thursday, February 6th. Canaccord Genuity Group lifted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Finally, Piper Sandler lifted their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Two 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $108.91.

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.