HighPoint Advisor Group LLC Increases Stock Position in Boston Scientific Co. (NYSE:BSX)

HighPoint Advisor Group LLC lifted its position in shares of Boston Scientific Co. (NYSE:BSX) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,429 shares of the medical equipment provider’s stock after buying an additional 1,683 shares during the period. HighPoint Advisor Group LLC’s holdings in Boston Scientific were worth $1,825,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. increased its stake in Boston Scientific by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider’s stock worth $1,477,307,000 after acquiring an additional 832,386 shares during the last quarter. Summit Financial LLC grew its holdings in shares of Boston Scientific by 13.2% during the 4th quarter. Summit Financial LLC now owns 29,483 shares of the medical equipment provider’s stock worth $2,633,000 after purchasing an additional 3,428 shares during the period. Alliancebernstein L.P. increased its position in Boston Scientific by 6.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,847,919 shares of the medical equipment provider’s stock worth $165,056,000 after purchasing an additional 110,934 shares in the last quarter. Axiom Investors LLC DE lifted its position in Boston Scientific by 208.2% during the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock valued at $335,167,000 after buying an additional 2,535,007 shares in the last quarter. Finally, AIA Group Ltd grew its stake in Boston Scientific by 2,067.2% during the fourth quarter. AIA Group Ltd now owns 96,312 shares of the medical equipment provider’s stock worth $8,603,000 after buying an additional 91,868 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on BSX shares. Piper Sandler raised their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group raised their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Raymond James upped their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Morgan Stanley boosted their price target on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific Stock Up 1.6 %

NYSE:BSX opened at $100.95 on Tuesday. The stock has a 50-day simple moving average of $102.20 and a 200 day simple moving average of $93.30. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company has a market capitalization of $149.30 billion, a price-to-earnings ratio of 80.76, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Sell-side analysts predict 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 Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Daniel J. Brennan sold 15,087 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the sale, the chief financial officer now directly owns 241,451 shares of the company’s stock, valued at approximately $25,369,256.57. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock worth $14,319,269 over the last 90 days. 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.