Independent Advisor Alliance Buys 8,199 Shares of Boston Scientific Co. (NYSE:BSX)

Independent Advisor Alliance boosted its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 136.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,213 shares of the medical equipment provider's stock after buying an additional 8,199 shares during the period. Independent Advisor Alliance's holdings in Boston Scientific were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Impax Asset Management Group plc grew its position in shares of Boston Scientific by 17.5% during the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider's stock valued at $457,138,000 after purchasing an additional 815,403 shares in the last quarter. Sigma Planning Corp grew its position in shares of Boston Scientific by 5.2% during the 3rd quarter. Sigma Planning Corp now owns 7,900 shares of the medical equipment provider's stock valued at $662,000 after purchasing an additional 389 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Boston Scientific by 11.5% during the 3rd quarter. Harbour Investments Inc. now owns 2,817 shares of the medical equipment provider's stock valued at $236,000 after purchasing an additional 291 shares in the last quarter. Prime Capital Investment Advisors LLC grew its position in shares of Boston Scientific by 19.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,056 shares of the medical equipment provider's stock valued at $843,000 after purchasing an additional 1,638 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its position in shares of Boston Scientific by 5.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 9,969 shares of the medical equipment provider's stock valued at $835,000 after purchasing an additional 520 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BSX shares. Truist Financial boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Morgan Stanley lifted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Barclays lifted their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Argus set a $130.00 price objective on shares of Boston Scientific in a report on Tuesday, February 18th. Finally, Piper Sandler lifted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $108.91.

Insider Activity

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction that occurred 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. This trade 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 over the last 90 days. 0.50% of the stock is currently owned by insiders.

Boston Scientific Trading Up 1.6 %

Shares of NYSE BSX traded up $1.52 during midday trading on Monday, hitting $98.68. 1,976,548 shares of the company traded hands, compared to its average volume of 5,730,162. Boston Scientific Co. has a 12-month low of $66.16 and a 12-month high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The stock has a 50-day moving average price of $101.05 and a 200 day moving average price of $91.84. The firm has a market cap of $145.63 billion, a P/E ratio of 78.93, a P/E/G ratio of 2.79 and a beta of 0.77.

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 (EPS) for the quarter, beating 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%. As a group, analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.