Parallel Advisors LLC Raises Stake in Boston Scientific Co. (NYSE:BSX)

Parallel Advisors LLC increased its stake in Boston Scientific Co. (NYSE:BSX) by 11.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,711 shares of the medical equipment provider’s stock after buying an additional 1,453 shares during the quarter. Parallel Advisors LLC’s holdings in Boston Scientific were worth $1,314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department purchased a new stake in Boston Scientific during the fourth quarter valued at about $415,000. Highland Capital Management LLC purchased a new stake in Boston Scientific during the fourth quarter valued at about $4,887,000. Covenant Asset Management LLC purchased a new stake in Boston Scientific during the fourth quarter valued at about $3,405,000. Finally, Brookstone Capital Management lifted its holdings in Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, Director Edward J. Ludwig sold 12,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the sale, the director now owns 24,398 shares of the company’s stock, valued at approximately $2,573,501.04. This represents a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock worth $14,319,269 over the last ninety days. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Monday, March 3rd. Raymond James upped their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a report on Thursday, February 6th. Piper Sandler upped their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Morgan Stanley upped their price target on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Two equities 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 stock. According to data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average target price of $108.91.

Boston Scientific Stock Up 0.3 %

Shares of NYSE BSX opened at $99.17 on Wednesday. Boston Scientific Co. has a one year low of $66.80 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 firm’s 50 day simple moving average is $101.35 and its two-hundred day simple moving average is $92.09. The stock has a market capitalization of $146.36 billion, a P/E ratio of 79.34, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Boston Scientific Company 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.