Fairfield Financial Advisors LTD Purchases New Holdings in Boston Scientific Co. (NYSE:BSX)

Fairfield Financial Advisors LTD purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 600 shares of the medical equipment provider’s stock, valued at approximately $54,000.

Other large investors also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Boston Scientific by 4.4% during the 3rd 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 in the last quarter. Mechanics Bank Trust Department bought a new stake in Boston Scientific during the 4th quarter valued at about $415,000. Highland Capital Management LLC bought a new stake in Boston Scientific during the 4th quarter valued at about $4,887,000. Covenant Asset Management LLC bought a new stake in Boston Scientific during the 4th quarter valued at about $3,405,000. Finally, Brookstone Capital Management increased its stake in Boston Scientific by 23.7% during the 4th 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 in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the transaction, the executive vice president now owns 25,443 shares of the company’s stock, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,322 shares of company stock valued at $14,321,068. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on BSX shares. Raymond James raised their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Canaccord Genuity Group lifted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Truist Financial lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley lifted their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $99.15 on Friday. 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 $65.52 and a 1-year high of $107.17. The company has a market capitalization of $146.33 billion, a P/E ratio of 79.32, a P/E/G ratio of 2.79 and a beta of 0.80. The firm’s 50 day simple moving average is $100.45 and its two-hundred day simple moving average is $91.10.

Boston Scientific (NYSE:BSX) last issued 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 net margin of 11.07% and a return on equity of 17.80%. Research analysts expect that Boston Scientific Co. will post 2.85 EPS 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.