Advisors Asset Management Inc. Boosts Stock Position in Boston Scientific Co. (NYSE:BSX)

Advisors Asset Management Inc. grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 41.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,970 shares of the medical equipment provider’s stock after buying an additional 9,910 shares during the period. Advisors Asset Management Inc.’s holdings in Boston Scientific were worth $3,034,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Citizens Financial Group Inc. RI lifted its holdings in Boston Scientific by 41.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,039 shares of the medical equipment provider’s stock worth $422,000 after purchasing an additional 1,475 shares in the last quarter. Cypress Capital Group raised its holdings in shares of Boston Scientific by 19.9% during the 3rd quarter. Cypress Capital Group now owns 4,784 shares of the medical equipment provider’s stock worth $401,000 after acquiring an additional 794 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Boston Scientific by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after acquiring an additional 64,720 shares in the last quarter. 49 Wealth Management LLC purchased a new stake in shares of Boston Scientific during the 3rd quarter worth approximately $208,000. Finally, Icon Wealth Advisors LLC purchased a new stake in shares of Boston Scientific during the 3rd quarter worth approximately $1,104,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Down 0.8 %

Shares of NYSE BSX opened at $100.66 on Friday. 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 has a market capitalization of $148.55 billion, a P/E ratio of 80.53, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 1-year low of $66.80 and a 1-year high of $107.17. The business has a fifty day moving average price of $101.68 and a 200 day moving average price of $92.35.

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%. Equities research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total value of $1,265,760.00. Following the sale, the director now directly owns 24,398 shares in the company, valued at approximately $2,573,501.04. This trade represents a 32.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,302 shares of company stock worth $14,319,269. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BSX. Stifel Nicolaus upped their price objective on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Raymond James boosted their target price on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Piper Sandler boosted their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, UBS Group boosted their target price on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.