Atria Wealth Solutions Inc. Raises Stake in Boston Scientific Co. (NYSE:BSX)

Atria Wealth Solutions Inc. raised its position in Boston Scientific Co. (NYSE:BSX) by 56.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,965 shares of the medical equipment provider’s stock after acquiring an additional 6,487 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Boston Scientific were worth $1,605,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after acquiring an additional 119 shares during the last quarter. Adero Partners LLC raised its holdings in Boston Scientific by 3.3% during the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after purchasing an additional 120 shares in the last quarter. Grove Bank & Trust raised its holdings in Boston Scientific by 4.4% during the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after purchasing an additional 122 shares in the last quarter. PFG Investments LLC raised its holdings in Boston Scientific by 1.6% during the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after purchasing an additional 125 shares in the last quarter. Finally, Stonegate Investment Group LLC raised its holdings in Boston Scientific by 1.6% during the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock worth $699,000 after purchasing an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BSX shares. 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. Piper Sandler raised their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Canaccord Genuity Group raised their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. UBS Group lifted their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $107.39.

Insider Buying and Selling

In related news, CFO Daniel J. Brennan sold 67,333 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at approximately $23,764,033.92. This represents a 22.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,640 shares of company stock worth $15,718,289 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $104.44 on Friday. The firm has a market capitalization of $154.12 billion, a P/E ratio of 83.55, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a one year low of $65.52 and a one year high of $107.17. The company’s fifty day moving average is $97.98 and its two-hundred day moving average is $89.38. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

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

Boston Scientific Company 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.