Private Advisor Group LLC Reduces Stock Position in Boston Scientific Co. (NYSE:BSX)

Private Advisor Group LLC trimmed its stake in shares of Boston Scientific Co. (NYSE:BSX) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,540 shares of the medical equipment provider’s stock after selling 1,463 shares during the period. Private Advisor Group LLC’s holdings in Boston Scientific were worth $3,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BSX. PFG Investments LLC raised its stake in Boston Scientific by 3.3% during the 3rd quarter. PFG Investments LLC now owns 7,988 shares of the medical equipment provider’s stock valued at $669,000 after buying an additional 258 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Boston Scientific by 123.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 158,538 shares of the medical equipment provider’s stock valued at $13,285,000 after acquiring an additional 87,470 shares during the last quarter. Cavalier Investments LLC increased its position in Boston Scientific by 6.7% during the third quarter. Cavalier Investments LLC now owns 71,841 shares of the medical equipment provider’s stock valued at $6,020,000 after acquiring an additional 4,485 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Boston Scientific by 11.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 13,718 shares of the medical equipment provider’s stock valued at $1,150,000 after acquiring an additional 1,445 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Boston Scientific by 1.3% in the third quarter. Nisa Investment Advisors LLC now owns 377,826 shares of the medical equipment provider’s stock worth $31,662,000 after purchasing an additional 4,959 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Royal Bank of Canada increased their price target 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. Stifel Nicolaus boosted 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. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Friday, January 10th. Finally, Truist Financial lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.39.

Boston Scientific Trading Down 0.2 %

Shares of BSX stock opened at $104.30 on Tuesday. The company has a market cap of $153.92 billion, a PE ratio of 83.44, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. 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’s 50 day simple moving average is $98.25 and its two-hundred day simple moving average is $89.69. Boston Scientific Co. has a 1 year low of $65.52 and a 1 year high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP John Bradley Sorenson sold 2,657 shares of Boston Scientific stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $104.41, for a total transaction of $277,417.37. Following the completion of the sale, the executive vice president now directly owns 24,294 shares in the company, valued at approximately $2,536,536.54. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel J. Brennan sold 67,333 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the transaction, the chief financial officer now owns 225,808 shares in the company, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,630 shares of company stock valued at $14,467,616. Company insiders own 0.50% of the company’s stock.

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.