Independent Advisor Alliance boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 136.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,213 shares of the medical equipment provider's stock after purchasing an additional 8,199 shares during the quarter. Independent Advisor Alliance's holdings in Boston Scientific were worth $1,270,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock worth $345,205,000 after acquiring an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department bought a new position in Boston Scientific during the 4th quarter worth about $415,000. Highland Capital Management LLC bought a new position in Boston Scientific during the 4th quarter worth about $4,887,000. Covenant Asset Management LLC bought a new position in Boston Scientific during the 4th quarter worth about $3,405,000. Finally, Brookstone Capital Management grew its holdings 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 acquiring an additional 20,307 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.
Insider Transactions at Boston Scientific
In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value 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 trade represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the sale, the executive vice president now directly owns 25,443 shares in the company, valued at $2,704,845.33. This represents a 4.51 % decrease in their position. 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 90 days. 0.50% of the stock is currently owned by company insiders.
Boston Scientific Stock Performance
BSX traded up $1.55 during trading on Wednesday, reaching $100.77. 5,501,097 shares of the company's stock were exchanged, compared to its average volume of 5,740,543. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year 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. The stock has a market capitalization of $148.72 billion, a P/E ratio of 80.62, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company's fifty day simple moving average is $101.35 and its 200-day simple moving average is $92.09.
Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
BSX has been the topic of several recent research reports. Morgan Stanley increased their target price 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 increased their target price 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. Raymond James increased their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boston Scientific presently has a consensus rating of "Moderate Buy" and a consensus target price of $108.91.
Check Out Our Latest Stock Report on Boston Scientific
About Boston Scientific
(
Free Report)
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.
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