Alta Advisers Ltd Increases Stake in Boston Scientific Co. (NYSE:BSX)

Alta Advisers Ltd grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 23.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,832 shares of the medical equipment provider’s stock after purchasing an additional 932 shares during the quarter. Alta Advisers Ltd’s holdings in Boston Scientific were worth $432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TFC Financial Management Inc. raised its stake in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares during the last quarter. Global Wealth Strategies & Associates increased its holdings in Boston Scientific by 423.7% during the 4th 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 during the period. West Oak Capital LLC bought a new position in Boston Scientific during the 4th quarter valued at approximately $29,000. Valley National Advisers Inc. lifted its holdings in Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 286 shares during the period. Finally, Fairway Wealth LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $36,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 1.6 %

Boston Scientific stock opened at $93.63 on Tuesday. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The business’s fifty day moving average is $99.22 and its 200 day moving average is $94.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock has a market capitalization of $138.49 billion, a PE ratio of 74.90, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, sell-side analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Insider Activity at Boston Scientific

In other news, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the sale, the executive vice president now directly owns 25,443 shares in the company, valued at $2,704,845.33. This represents a 4.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the transaction, the chief financial officer now owns 225,808 shares in the company, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,183 shares of company stock worth $13,948,476. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on BSX shares. Argus set a $130.00 price target on Boston Scientific in a research note on Tuesday, February 18th. Royal Bank of Canada raised their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Barclays increased their price target on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Truist Financial cut their price objective on Boston Scientific from $120.00 to $113.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. One research 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 company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $110.22.

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.