Independent Advisor Alliance Buys 8,199 Shares of Boston Scientific Co. (NYSE:BSX)

Independent Advisor Alliance grew its stake in Boston Scientific Co. (NYSE:BSX) by 136.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,213 shares of the medical equipment provider’s stock after acquiring an additional 8,199 shares during the quarter. Independent Advisor Alliance’s holdings in Boston Scientific were worth $1,270,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Boston Scientific by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after purchasing an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department acquired a new position in shares of Boston Scientific in the 4th quarter valued at $415,000. Highland Capital Management LLC bought a new stake in shares of Boston Scientific in the 4th quarter valued at $4,887,000. Covenant Asset Management LLC acquired a new stake in Boston Scientific during the 4th quarter worth $3,405,000. Finally, Brookstone Capital Management lifted its holdings in Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after acquiring an additional 20,307 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Up 2.0 %

NYSE BSX opened at $97.26 on Friday. Boston Scientific Co. has a 12 month low of $65.87 and a 12 month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average of $101.05 and a 200-day moving average of $91.67. The company has a market cap of $143.53 billion, a PE ratio of 77.81, a PEG ratio of 2.79 and a beta of 0.77.

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, beating 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, equities research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on BSX. TD Cowen increased their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Argus set a $130.00 target price on Boston Scientific in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised 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. Canaccord Genuity Group upped 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. Finally, Royal Bank of Canada raised their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

Insider Buying and Selling

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction that occurred 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 transaction, the executive vice president now owns 25,443 shares of the company’s stock, valued at $2,704,845.33. This represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,302 shares of company stock worth $14,319,269. Company 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.