Boston Scientific Co. (NYSE:BSX) Position Increased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its position in Boston Scientific Co. (NYSE:BSX) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,915 shares of the medical equipment provider’s stock after purchasing an additional 16,054 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Boston Scientific were worth $20,357,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. PGGM Investments increased its holdings in Boston Scientific by 47.0% in the fourth quarter. PGGM Investments now owns 192,025 shares of the medical equipment provider’s stock worth $17,152,000 after buying an additional 61,413 shares during the last quarter. Bowen Hanes & Co. Inc. bought a new stake in Boston Scientific in the fourth quarter worth approximately $31,893,000. Achmea Investment Management B.V. increased its stake in shares of Boston Scientific by 92.3% during the 4th 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 last quarter. Vestcor Inc raised its holdings in shares of Boston Scientific by 3.3% during the 4th quarter. Vestcor Inc now owns 41,636 shares of the medical equipment provider’s stock valued at $3,719,000 after purchasing an additional 1,313 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Boston Scientific by 25.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 36,416 shares of the medical equipment provider’s stock valued at $3,253,000 after purchasing an additional 7,282 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the sale, the executive vice president now owns 5,502 shares in the company, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock valued at $14,319,269 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BSX has been the topic of several analyst reports. Stifel Nicolaus increased their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Friday, January 10th. Truist Financial increased their price target on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Piper Sandler raised their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $108.91.

Boston Scientific Price Performance

NYSE:BSX opened at $97.26 on Monday. The company has a market capitalization of $143.53 billion, a price-to-earnings ratio of 77.81, a PEG ratio of 2.79 and a beta of 0.77. The company has a 50-day moving average of $101.05 and a 200-day moving average of $91.84. Boston Scientific Co. has a 52 week low of $66.16 and a 52 week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data 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, equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.