Boston Scientific Co. (NYSE:BSX) Stock Position Increased by IFP Advisors Inc

IFP Advisors Inc raised its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 17.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,105 shares of the medical equipment provider’s stock after buying an additional 1,200 shares during the period. IFP Advisors Inc’s holdings in Boston Scientific were worth $724,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. MONECO Advisors LLC raised its position in Boston Scientific by 7.6% during the third quarter. MONECO Advisors LLC now owns 3,861 shares of the medical equipment provider’s stock valued at $324,000 after acquiring an additional 272 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Boston Scientific by 9.7% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 119 shares during the last quarter. Oak Harvest Investment Services boosted its holdings in Boston Scientific by 60.7% in the third quarter. Oak Harvest Investment Services now owns 11,250 shares of the medical equipment provider’s stock worth $943,000 after purchasing an additional 4,250 shares in the last quarter. S.A. Mason LLC increased its position in Boston Scientific by 6.1% during the third quarter. S.A. Mason LLC now owns 2,335 shares of the medical equipment provider’s stock worth $196,000 after buying an additional 135 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Boston Scientific during the third quarter valued at about $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Thursday, February 6th. TD Cowen upped their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Truist Financial lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. UBS Group upped their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $107.39.

Boston Scientific Stock Performance

BSX opened at $100.66 on Friday. The stock has a market cap of $148.56 billion, a PE ratio of 80.53, a P/E/G ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a 1 year low of $65.52 and a 1 year high of $107.17. The stock’s 50 day simple moving average is $98.97 and its 200-day simple moving average is $90.03. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results 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 net margin of 11.07% and a return on equity of 17.80%. Sell-side analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. This represents a 19.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the transaction, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 144,305 shares of company stock valued at $14,954,985 over the last quarter. 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.