Waverly Advisors LLC Increases Stock Position in Boston Scientific Co. (NYSE:BSX)

Waverly Advisors LLC lifted its position in shares of Boston Scientific Co. (NYSE:BSX) by 24.2% during the fourth quarter, Holdings Channel reports. The firm owned 11,174 shares of the medical equipment provider’s stock after acquiring an additional 2,179 shares during the period. Waverly Advisors LLC’s holdings in Boston Scientific were worth $998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TFC Financial Management Inc. lifted its position in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 210 shares in the last quarter. Colonial Trust Co SC increased its position in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 260 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 286 shares during the last quarter. Fairway Wealth LLC bought a new stake in Boston Scientific during the fourth quarter worth $36,000. Finally, Johnson Financial Group Inc. boosted its position in Boston Scientific by 60.1% in the fourth quarter. Johnson Financial Group Inc. now owns 469 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 176 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BSX has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. BTIG Research restated a “buy” rating and set a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Royal Bank of Canada lifted their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Robert W. Baird boosted their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Twenty-three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $114.87.

Boston Scientific Price Performance

Boston Scientific stock opened at $104.49 on Friday. The firm has a market capitalization of $154.59 billion, a P/E ratio of 83.59, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a one year low of $71.88 and a one year high of $107.17. 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 business has a fifty day moving average price of $99.97 and a 200-day moving average price of $97.29.

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

Insider Transactions at Boston Scientific

In other news, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares in the company, valued at $2,269,304.10. This trade represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,830 shares of company stock valued at $20,043,415. 0.50% of the stock is currently owned by corporate insiders.

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.