Waverly Advisors LLC Increases Stock Holdings in Boston Scientific Corporation $BSX

Waverly Advisors LLC increased its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 162,989 shares of the medical equipment provider’s stock after buying an additional 12,801 shares during the quarter. Waverly Advisors LLC’s holdings in Boston Scientific were worth $10,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Boston Scientific by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider’s stock worth $13,319,060,000 after acquiring an additional 1,436,550 shares during the last quarter. State Street Corp boosted its holdings in shares of Boston Scientific by 1.4% in the 4th quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider’s stock valued at $6,278,422,000 after purchasing an additional 920,495 shares during the last quarter. Capital World Investors boosted its holdings in shares of Boston Scientific by 1.9% in the 4th quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider’s stock valued at $2,588,953,000 after purchasing an additional 502,627 shares during the last quarter. Norges Bank purchased a new stake in shares of Boston Scientific during the 4th quarter valued at $2,199,395,000. Finally, Morgan Stanley increased its holdings in shares of Boston Scientific by 10.8% during the 4th quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider’s stock worth $2,189,289,000 after buying an additional 2,246,308 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on BSX. Piper Sandler restated an “overweight” rating and set a $65.00 price target on shares of Boston Scientific in a research note on Friday, June 12th. Canaccord Genuity Group decreased their target price on Boston Scientific from $71.00 to $70.00 and set a “buy” rating for the company in a report on Monday, June 1st. Mizuho dropped their target price on shares of Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Daiwa Securities Group lowered shares of Boston Scientific from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Finally, Jefferies Financial Group reduced their price target on shares of Boston Scientific from $100.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $79.64.

Boston Scientific Stock Up 3.0%

Shares of NYSE:BSX opened at $45.56 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week high of $109.50. The company has a 50 day moving average of $47.00 and a two-hundred day moving average of $63.47. The company has a market capitalization of $67.72 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58.

Boston Scientific announced that its board has initiated a stock repurchase plan on Monday, May 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical equipment provider to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Boston Scientific news, Director David C. Habiger acquired 2,250 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the purchase, the director directly owned 13,878 shares in the company, valued at $776,057.76. This trade represents a 19.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cheryl Pegus bought 1,770 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the transaction, the director owned 1,770 shares in the company, valued at $99,987.30. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 9,800 shares of company stock worth $554,012. 0.34% of the stock is currently owned by company insiders.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.