Boston Scientific Co. (NYSE:BSX) is Homestead Advisers Corp’s 8th Largest Position

Homestead Advisers Corp grew its stake in Boston Scientific Co. (NYSE:BSX) by 3.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,179,526 shares of the medical equipment provider’s stock after purchasing an additional 43,700 shares during the quarter. Boston Scientific makes up 2.5% of Homestead Advisers Corp’s investment portfolio, making the stock its 8th biggest position. Homestead Advisers Corp’s holdings in Boston Scientific were worth $105,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TFC Financial Management Inc. increased its holdings in Boston Scientific by 308.8% during the 4th 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 period. Global Wealth Strategies & Associates grew its position in shares of Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares in the last quarter. West Oak Capital LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at $29,000. Dunhill Financial LLC raised its holdings in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. Finally, Valley National Advisers Inc. raised its holdings in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 286 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group boosted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler lifted their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley boosted their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company raised their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $108.91.

Boston Scientific Trading Down 0.7 %

Shares of Boston Scientific stock opened at $102.31 on Thursday. The stock has a market cap of $151.32 billion, a PE ratio of 81.85, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The firm has a fifty day moving average price of $102.10 and a 200 day moving average price of $92.87. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. 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 (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Equities research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Daniel J. Brennan sold 67,333 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the sale, the chief financial officer now owns 225,808 shares in the company, valued at approximately $23,764,033.92. This trade represents a 22.97 % 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 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 transaction, the executive vice president now owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,302 shares of company stock worth $14,319,269. Corporate insiders own 0.50% of the company’s stock.

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.