Savvy Advisors Inc. Grows Holdings in Boston Scientific Co. (NYSE:BSX)

Savvy Advisors Inc. lifted its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 248.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,263 shares of the medical equipment provider's stock after acquiring an additional 8,035 shares during the period. Savvy Advisors Inc.'s holdings in Boston Scientific were worth $1,006,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mechanics Bank Trust Department bought a new position in shares of Boston Scientific in the fourth quarter worth approximately $415,000. Highland Capital Management LLC purchased a new position in Boston Scientific in the 4th quarter worth $4,887,000. Covenant Asset Management LLC purchased a new stake in Boston Scientific during the 4th quarter valued at about $3,405,000. Brookstone Capital Management boosted its stake in shares of Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock valued at $9,455,000 after purchasing an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. increased its position in shares of Boston Scientific by 31.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock valued at $1,744,000 after acquiring an additional 4,702 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on BSX. Raymond James boosted their target price on Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a research note on Thursday, February 6th. UBS Group raised their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Morgan Stanley raised their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Barclays raised their price objective on Boston Scientific from $111.00 to $118.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, Truist Financial reduced their price objective on Boston Scientific from $120.00 to $113.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Boston Scientific has a consensus rating of "Buy" and an average target price of $110.22.

Insiders Place Their Bets

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction 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. The trade was a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 6,528 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the sale, the executive vice president now owns 26,449 shares in the company, valued at approximately $2,776,351.53. The trade was a 19.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,183 shares of company stock valued at $13,948,476. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 0.2 %

Shares of BSX stock traded down $0.17 on Friday, hitting $95.08. The stock had a trading volume of 6,672,959 shares, compared to its average volume of 6,370,413. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $99.68 and a 200 day moving average price of $94.26. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company has a market cap of $140.63 billion, a PE ratio of 76.06, a P/E/G ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its 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 net margin of 11.07% and a return on equity of 17.80%. Research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.