Virtus ETF Advisers LLC Makes New $1.21 Million Investment in Boston Scientific Co. (NYSE:BSX)

Virtus ETF Advisers LLC bought a new stake in Boston Scientific Co. (NYSE:BSX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 13,576 shares of the medical equipment provider's stock, valued at approximately $1,213,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BSX. TFC Financial Management Inc. grew its holdings in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 210 shares during the last quarter. Global Wealth Strategies & Associates increased its stake in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at approximately $29,000. Valley National Advisers Inc. increased its stake in shares of Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 286 shares in the last quarter. Finally, Fairway Wealth LLC purchased a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $36,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 138,009 shares of company stock worth $14,407,381. Corporate insiders own 0.50% of the company's stock.

Boston Scientific Trading Up 0.5 %

Shares of BSX traded up $0.51 during trading on Tuesday, reaching $102.69. 5,478,642 shares of the company traded hands, compared to its average volume of 6,347,135. Boston Scientific Co. has a twelve month low of $70.97 and a twelve month high of $107.17. The stock has a 50-day simple moving average of $98.62 and a 200-day simple moving average of $95.03. The stock has a market cap of $151.89 billion, a PE ratio of 82.15, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter last year, the company posted $0.56 EPS. The firm's revenue was up 20.9% compared to the same quarter last year. On average, analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

BSX has been the topic of a number of recent analyst reports. BTIG Research reiterated a "buy" rating and set a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. UBS Group lifted their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Robert W. Baird lifted their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Stifel Nicolaus raised their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Piper Sandler increased their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $114.52.

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.