Commonwealth Equity Services LLC Grows Holdings in Boston Scientific Co. (NYSE:BSX)

Commonwealth Equity Services LLC increased its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,915 shares of the medical equipment provider's stock after purchasing an additional 16,054 shares during the period. Commonwealth Equity Services LLC's holdings in Boston Scientific were worth $20,357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Adero Partners LLC grew its stake in shares of Boston Scientific by 3.3% during the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock worth $334,000 after purchasing an additional 120 shares in the last quarter. Grove Bank & Trust grew its stake in shares of Boston Scientific by 4.4% during the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider's stock worth $261,000 after purchasing an additional 122 shares in the last quarter. PFG Investments LLC boosted its stake in Boston Scientific by 1.6% in the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider's stock valued at $725,000 after acquiring an additional 125 shares in the last quarter. Stonegate Investment Group LLC boosted its stake in Boston Scientific by 1.6% in the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider's stock valued at $699,000 after acquiring an additional 126 shares in the last quarter. Finally, MinichMacGregor Wealth Management LLC boosted its stake in Boston Scientific by 2.3% in the fourth quarter. MinichMacGregor Wealth Management LLC now owns 5,689 shares of the medical equipment provider's stock valued at $508,000 after acquiring an additional 130 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

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Insider Buying and Selling at Boston Scientific

In other news, CFO Daniel J. Brennan sold 67,333 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the transaction, the chief financial officer now owns 225,808 shares of the company's stock, valued at approximately $23,764,033.92. This trade represents a 22.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm's 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 completion of the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. This represents a 10.44 % 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 in the last quarter. 0.50% of the stock is owned by insiders.

Boston Scientific Trading Up 0.3 %

Shares of BSX traded up $0.33 during mid-day trading on Tuesday, reaching $99.23. The company had a trading volume of 3,154,200 shares, compared to its average volume of 5,734,161. The stock has a market cap of $146.44 billion, a price-to-earnings ratio of 79.28, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The firm has a fifty day simple moving average of $101.21 and a 200-day simple moving average of $91.97. Boston Scientific Co. has a fifty-two week low of $66.16 and a fifty-two week high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share 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, sell-side analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

BSX has been the subject of several research analyst reports. Truist Financial upped their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Royal Bank of Canada upped their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Argus set a $130.00 price objective on shares of Boston Scientific in a research note on Tuesday, February 18th. JPMorgan Chase & Co. increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 target price for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.