Independent Advisor Alliance Grows Holdings in 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 the company in its most recent 13F filing with the SEC. The fund owned 14,213 shares of the medical equipment provider's stock after buying an additional 8,199 shares during the quarter. Independent Advisor Alliance's holdings in Boston Scientific were worth $1,270,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BSX. Raymond James Financial Inc. purchased a new position in Boston Scientific in the 4th quarter worth about $190,780,000. State Street Corp raised its position in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock worth $5,266,522,000 after buying an additional 1,389,172 shares during the last quarter. Fisher Funds Management LTD purchased a new position in Boston Scientific in the 4th quarter worth about $94,710,000. Fisher Asset Management LLC raised its position in Boston Scientific by 21.6% in the 4th quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider's stock worth $518,138,000 after buying an additional 1,028,977 shares during the last quarter. Finally, Impax Asset Management Group plc increased 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 during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Price Performance

Shares of NYSE BSX traded up $0.27 during midday trading on Tuesday, reaching $99.17. 5,370,015 shares of the stock traded hands, compared to its average volume of 5,741,979. 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 $146.36 billion, a PE ratio of 79.34, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company's 50 day moving average is $101.35 and its 200 day moving average is $92.09.

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Boston Scientific (NYSE:BSX - Get Free Report) last issued 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 return on equity of 17.80% and a net margin of 11.07%. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock worth $14,319,269 over the last three months. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price target for the company in a research report on Friday, January 10th. Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a report on Monday, March 3rd. Piper Sandler increased their target price 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. Citigroup increased their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Canaccord Genuity Group increased their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Two investment 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.