Madison Investment Advisors LLC Buys Shares of 2,950 Boston Scientific Co. (NYSE:BSX)

Madison Investment Advisors LLC bought a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 2,950 shares of the medical equipment provider's stock, valued at approximately $263,000.

A number of other hedge funds have also modified their holdings of BSX. Impact Capital Partners LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $292,000. Commonwealth Equity Services LLC grew its stake in Boston Scientific by 7.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 227,915 shares of the medical equipment provider's stock valued at $20,357,000 after acquiring an additional 16,054 shares during the period. PGGM Investments grew its stake in Boston Scientific by 47.0% in the fourth quarter. PGGM Investments now owns 192,025 shares of the medical equipment provider's stock valued at $17,152,000 after acquiring an additional 61,413 shares during the period. Bowen Hanes & Co. Inc. bought a new stake in shares of Boston Scientific in the fourth quarter worth about $31,893,000. Finally, Achmea Investment Management B.V. raised its position in shares of Boston Scientific by 92.3% during the fourth quarter. Achmea Investment Management B.V. now owns 140,373 shares of the medical equipment provider's stock worth $12,538,000 after purchasing an additional 67,362 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BSX shares. Morgan Stanley increased their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Truist Financial boosted their price objective 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. UBS Group lifted their price target on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, Stifel Nicolaus upped their price objective on Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $108.91.

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Boston Scientific Stock Performance

Boston Scientific stock traded down $0.77 during midday trading on Wednesday, hitting $102.31. The company's stock had a trading volume of 6,645,624 shares, compared to its average volume of 7,075,561. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 1-year low of $66.80 and a 1-year high of $107.17. The company has a 50-day moving average price of $101.99 and a two-hundred day moving average price of $92.80. The company has a market cap of $151.32 billion, a price-to-earnings ratio of 81.85, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX - Get Free Report) last released its 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 return on equity of 17.80% and a net margin of 11.07%. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm'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 sale, the executive vice president now directly owns 28,454 shares of the company's stock, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Daniel J. Brennan sold 15,087 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total value of $1,585,191.09. Following the transaction, the chief financial officer now directly owns 241,451 shares of the company's stock, valued at approximately $25,369,256.57. The trade was a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock worth $14,319,269 over the last three months. Insiders own 0.50% of the company's stock.

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.