Boston Scientific Co. (NYSE:BSX) Shares Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC raised its holdings in Boston Scientific Co. (NYSE:BSX) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,350 shares of the medical equipment provider’s stock after buying an additional 8,135 shares during the quarter. Boston Scientific makes up approximately 2.1% of Sierra Summit Advisors LLC’s holdings, making the stock its 18th largest holding. Sierra Summit Advisors LLC’s holdings in Boston Scientific were worth $10,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Federated Hermes Inc. increased its holdings in Boston Scientific by 5.5% in the 4th quarter. Federated Hermes Inc. now owns 1,698,890 shares of the medical equipment provider’s stock valued at $151,745,000 after purchasing an additional 88,550 shares in the last quarter. Atika Capital Management LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at about $7,610,000. Ilmarinen Mutual Pension Insurance Co raised its holdings in shares of Boston Scientific by 31.5% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 263,000 shares of the medical equipment provider’s stock valued at $23,491,000 after buying an additional 63,000 shares during the period. Russell Investments Group Ltd. lifted its position in Boston Scientific by 11.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,096,314 shares of the medical equipment provider’s stock worth $97,971,000 after acquiring an additional 111,991 shares in the last quarter. Finally, Hurley Capital LLC purchased a new position in Boston Scientific in the 4th quarter worth approximately $45,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. The trade was a 75.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel J. Brennan sold 15,087 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 241,451 shares of the company’s stock, valued at approximately $25,369,256.57. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,183 shares of company stock valued at $13,948,476. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BSX. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Morgan Stanley lifted their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Truist Financial raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group boosted their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $89.78 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average price is $101.90 and its two-hundred day moving average price is $93.71. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week high of $107.17. The stock has a market capitalization of $132.78 billion, a P/E ratio of 71.82, a P/E/G ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (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%. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current 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.