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

Independent Advisor Alliance raised its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 136.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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.

Other large investors have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Boston Scientific by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock valued at $345,205,000 after purchasing an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department acquired a new stake in Boston Scientific during the fourth quarter worth approximately $415,000. Highland Capital Management LLC acquired a new stake in Boston Scientific during the fourth quarter worth approximately $4,887,000. Covenant Asset Management LLC acquired a new stake in Boston Scientific during the fourth quarter worth approximately $3,405,000. Finally, Brookstone Capital Management grew its stake in Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock worth $9,455,000 after purchasing an additional 20,307 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now directly owns 28,454 shares in the company, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now owns 35,319 shares of the company's stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,302 shares of company stock worth $14,319,269. 0.50% of the stock is owned by corporate insiders.

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Boston Scientific Stock Performance

Shares of NYSE BSX traded down $0.46 during mid-day trading on Tuesday, hitting $98.44. The company had a trading volume of 774,398 shares, compared to its average volume of 5,724,782. The company has a market capitalization of $145.27 billion, a price-to-earnings ratio of 78.81, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 1 year low of $66.16 and a 1 year 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. The stock's 50-day moving average price is $101.21 and its 200-day moving average price is $91.97.

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 the consensus estimate 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, sell-side analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on BSX. StockNews.com cut Boston Scientific from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a research note on Monday, March 3rd. Stifel Nicolaus raised their price objective on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price objective for the company in a research note on Friday, January 10th. Finally, Canaccord Genuity Group lifted their target price on Boston Scientific from $98.00 to $101.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Two investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $108.91.

About Boston Scientific

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.