NEOS Investment Management LLC Boosts Stock Position in Boston Scientific Co. (NYSE:BSX)

NEOS Investment Management LLC raised its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 16.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,757 shares of the medical equipment provider's stock after buying an additional 15,325 shares during the quarter. NEOS Investment Management LLC's holdings in Boston Scientific were worth $9,714,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BSX. TFC Financial Management Inc. grew its stake in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 210 shares during the period. Global Wealth Strategies & Associates grew its stake in Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 250 shares during the period. West Oak Capital LLC bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $29,000. Dunhill Financial LLC raised its position in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 152 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in shares of Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 286 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

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Boston Scientific Stock Performance

BSX traded down $1.51 during trading hours on Friday, hitting $99.29. The stock had a trading volume of 7,402,670 shares, compared to its average volume of 6,051,507. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The company's fifty day simple moving average is $102.16 and its 200 day simple moving average is $93.04. The stock has a market cap of $146.86 billion, a PE ratio of 79.43, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Equities analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the sale, the executive vice president now owns 28,454 shares of the company's stock, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares of the company's stock, valued at $560,103.60. The trade was a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock worth $14,319,269 over the last 90 days. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of recent research reports. Barclays boosted their price target on shares of Boston Scientific from $111.00 to $118.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Piper Sandler boosted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Canaccord Genuity Group raised their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the company a "buy" rating in a research report on Monday, December 9th. UBS Group boosted their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, StockNews.com lowered Boston Scientific from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. 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 a consensus rating of "Moderate Buy" and a consensus target price of $108.91.

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.