Independent Advisor Alliance Has $1.27 Million Stake in Boston Scientific Co. (NYSE:BSX)

Independent Advisor Alliance lifted its position in shares of Boston Scientific Co. (NYSE:BSX) by 136.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 14,213 shares of the medical equipment provider’s stock after buying an additional 8,199 shares during the quarter. Independent Advisor Alliance’s holdings in Boston Scientific were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Boston Scientific during the 4th quarter worth $190,780,000. State Street Corp grew its stake in shares of Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Fisher Funds Management LTD bought a new position in Boston Scientific during the fourth quarter worth about $94,710,000. Fisher Asset Management LLC raised its stake in Boston Scientific by 21.6% in the 4th quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock worth $518,138,000 after purchasing an additional 1,028,977 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in Boston Scientific by 17.5% in the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after purchasing an additional 815,403 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Daniel J. Brennan sold 15,087 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares in the company, valued at $25,369,256.57. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock valued at $14,319,269 over the last quarter. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Performance

NYSE BSX opened at $97.26 on Friday. The firm’s fifty day moving average price is $101.05 and its two-hundred day moving average price is $91.67. The stock 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. 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 Co. has a fifty-two week low of $65.87 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share 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%. On average, equities analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on BSX shares. Wells Fargo & Company raised their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Monday, March 3rd. Morgan Stanley increased their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Barclays boosted their price target on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $108.91.

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.