RiverFront Investment Group LLC Buys 561 Shares of Boston Scientific Co. (NYSE:BSX)

RiverFront Investment Group LLC increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 18.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,581 shares of the medical equipment provider’s stock after purchasing an additional 561 shares during the quarter. RiverFront Investment Group LLC’s holdings in Boston Scientific were worth $320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its stake in shares of Boston Scientific by 3.2% during the third quarter. D.A. Davidson & CO. now owns 10,945 shares of the medical equipment provider’s stock valued at $917,000 after purchasing an additional 342 shares in the last quarter. Townsquare Capital LLC grew its holdings in Boston Scientific by 191.9% during the 3rd quarter. Townsquare Capital LLC now owns 26,896 shares of the medical equipment provider’s stock worth $2,254,000 after acquiring an additional 17,683 shares during the last quarter. Glenmede Trust Co. NA increased its position in Boston Scientific by 19.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 20,463 shares of the medical equipment provider’s stock valued at $1,715,000 after acquiring an additional 3,261 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Boston Scientific in the 3rd quarter valued at approximately $6,254,000. Finally, CreativeOne Wealth LLC raised its stake in shares of Boston Scientific by 62.0% during the third quarter. CreativeOne Wealth LLC now owns 4,478 shares of the medical equipment provider’s stock valued at $375,000 after acquiring an additional 1,714 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 1.5 %

BSX stock opened at $99.29 on Friday. The firm has a market capitalization of $146.86 billion, a PE ratio of 79.43, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The stock’s 50 day moving average is $102.16 and its 200-day moving average is $93.11.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating 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 expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BSX shares. Royal Bank of Canada boosted their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. UBS Group increased their price target on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Argus set a $130.00 price objective on Boston Scientific in a research note on Tuesday, February 18th. Truist Financial increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus raised their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Insider Buying and Selling

In related news, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction on Wednesday, February 12th. The stock was 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 in the company, valued at approximately $25,369,256.57. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the company’s stock in a transaction on 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 owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,302 shares of company stock worth $14,319,269. 0.50% of the stock is owned by 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.