Investment Advisory Group LLC Takes $205,000 Position in Boston Scientific Co. (NYSE:BSX)

Investment Advisory Group LLC bought a new position in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, HoldingsChannel.com reports. The firm bought 2,293 shares of the medical equipment provider’s stock, valued at approximately $205,000.

Several other institutional investors have also modified their holdings of the business. Global Trust Asset Management LLC boosted its holdings in Boston Scientific by 64.5% in the fourth quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider’s stock valued at $39,000 after purchasing an additional 171 shares during the period. Dakota Wealth Management lifted its stake in Boston Scientific by 17.7% in the fourth quarter. Dakota Wealth Management now owns 68,019 shares of the medical equipment provider’s stock worth $6,075,000 after acquiring an additional 10,224 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Boston Scientific by 2.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 388,795 shares of the medical equipment provider’s stock worth $34,727,000 after acquiring an additional 10,969 shares in the last quarter. Genesis Private Wealth LLC purchased a new position in Boston Scientific in the fourth quarter valued at $243,000. Finally, Simon Quick Advisors LLC boosted its position in shares of Boston Scientific by 28.3% during the 4th quarter. Simon Quick Advisors LLC now owns 7,752 shares of the medical equipment provider’s stock worth $692,000 after acquiring an additional 1,711 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BSX shares. Sanford C. Bernstein raised their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company upped their price objective on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Citigroup raised their target price on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, TD Cowen lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.26.

Boston Scientific Trading Up 2.3 %

NYSE:BSX opened at $100.90 on Wednesday. The stock has a market capitalization of $148.71 billion, a price-to-earnings ratio of 83.39, a PEG ratio of 2.59 and a beta of 0.80. Boston Scientific Co. has a 1 year low of $59.85 and a 1 year high of $101.14. The stock has a fifty day moving average price of $91.45 and a two-hundred day moving average price of $84.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the sale, the executive vice president now directly owns 29,308 shares in the company, valued at approximately $2,660,580.24. The trade was a 19.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock worth $2,702,261 in the last quarter. Company insiders own 0.50% of the company’s stock.

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.