Independent Advisor Alliance Cuts Stock Position in Boston Scientific Co. (NYSE:BSX)

Independent Advisor Alliance reduced its stake in Boston Scientific Co. (NYSE:BSX) by 3.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 6,014 shares of the medical equipment provider’s stock after selling 219 shares during the quarter. Independent Advisor Alliance’s holdings in Boston Scientific were worth $504,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new position in Boston Scientific in the second quarter valued at about $26,000. Values First Advisors Inc. bought a new position in Boston Scientific during the third quarter valued at $28,000. Andra AP fonden purchased a new stake in Boston Scientific in the second quarter worth $29,000. Lynx Investment Advisory bought a new stake in shares of Boston Scientific in the second quarter valued at $30,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific during the 3rd quarter valued at $30,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BSX shares. Truist Financial lifted their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company lifted their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Canaccord Genuity Group increased their target price on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price of $93.39.

Insider Transactions at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares in the company, valued at $3,610,038.74. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 328,157 shares of company stock worth $27,894,270. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Up 0.6 %

BSX opened at $90.76 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $86.43 and its 200 day simple moving average is $80.51. Boston Scientific Co. has a 52 week low of $53.93 and a 52 week high of $91.93. The stock has a market cap of $133.76 billion, a PE ratio of 75.01, a P/E/G ratio of 2.63 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted $0.50 EPS. As a group, research analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

About Boston Scientific

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.