Virtus Investment Advisers Inc. Purchases Shares of 1,460 Boston Scientific Co. (NYSE:BSX)

Virtus Investment Advisers Inc. bought a new position in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,460 shares of the medical equipment provider’s stock, valued at approximately $130,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parnassus Investments LLC boosted its position in shares of Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after acquiring an additional 97 shares in the last quarter. Baldwin Investment Management LLC boosted its position in shares of Boston Scientific by 1.2% during the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock worth $781,000 after acquiring an additional 102 shares in the last quarter. Evergreen Capital Management LLC boosted its position in shares of Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after acquiring an additional 106 shares in the last quarter. PDS Planning Inc boosted its position in shares of Boston Scientific by 1.5% in the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock valued at $668,000 after purchasing an additional 113 shares during the period. Finally, Adero Partners LLC boosted its position in shares of Boston Scientific by 3.3% in the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after purchasing an additional 120 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Shares of BSX stock opened at $106.61 on Tuesday. The company has a market cap of $157.72 billion, a price-to-earnings ratio of 85.29, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The stock has a 50 day simple moving average of $99.39 and a 200-day simple moving average of $96.90. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.36. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 EPS. On average, equities analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BSX. Erste Group Bank raised Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Piper Sandler upped 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. Morgan Stanley upped their target price on Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday. Finally, BTIG Research reissued a “buy” rating and issued a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Twenty-three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $114.74.

Insider Buying and Selling

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the completion of the transaction, the chief executive officer now owns 1,535,706 shares of the company’s stock, valued at approximately $157,379,150.88. This trade represents a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Vance R. Brown sold 4,826 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the transaction, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,163 shares of company stock worth $27,129,540 in the last quarter. Company insiders own 0.50% of the company’s stock.

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.