Virtus Investment Advisers Inc. Makes New Investment in Boston Scientific Co. (NYSE:BSX)

Virtus Investment Advisers Inc. purchased a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,460 shares of the medical equipment provider’s stock, valued at approximately $130,000.

Other hedge funds have also made changes to their positions in the company. Mechanics Bank Trust Department acquired a new stake in shares of Boston Scientific during the fourth quarter worth $415,000. Highland Capital Management LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth $4,887,000. Covenant Asset Management LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth $3,405,000. Beacon Investment Advisory Services Inc. boosted its holdings in shares of Boston Scientific by 31.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after purchasing an additional 4,702 shares during the last quarter. Finally, Oak Harvest Investment Services boosted its holdings in shares of Boston Scientific by 262.5% during the fourth quarter. Oak Harvest Investment Services now owns 40,776 shares of the medical equipment provider’s stock worth $3,642,000 after purchasing an additional 29,526 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.5%

NYSE:BSX opened at $106.61 on Tuesday. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.36. The firm has a market capitalization of $157.72 billion, a PE ratio of 85.29, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. 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 business’s 50-day moving average is $99.39 and its two-hundred day moving average is $96.90.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the previous year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. Research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BSX has been the topic of several analyst reports. Morgan Stanley raised their price objective on Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday. Argus set a $130.00 target price on Boston Scientific in a report on Tuesday, February 18th. Wells Fargo & Company lifted their target price on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Needham & Company LLC lifted their target price on Boston Scientific from $113.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Finally, Piper Sandler lifted their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Twenty-three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $114.74.

Insider Transactions at Boston Scientific

In other news, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the sale, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at approximately $23,764,033.92. The trade was a 22.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 263,163 shares of company stock valued at $27,129,540. 0.50% of the stock is currently 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.