Soltis Investment Advisors LLC Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

Soltis Investment Advisors LLC raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 5.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,006 shares of the medical equipment provider’s stock after buying an additional 146 shares during the period. Soltis Investment Advisors LLC’s holdings in Boston Scientific were worth $268,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Values First Advisors Inc. acquired a new position in Boston Scientific in the third quarter valued at approximately $28,000. Dunhill Financial LLC grew its stake in shares of Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares during the period. Global Wealth Strategies & Associates increased its holdings in shares of Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $29,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Boston Scientific during the third quarter worth $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler lifted 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. Raymond James lifted their price target on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” 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 stock a “buy” rating in a research report on Friday, February 7th. Wells Fargo & Company boosted their price objective on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $107.39.

Boston Scientific Stock Performance

Boston Scientific stock opened at $106.03 on Wednesday. The stock has a market cap of $156.26 billion, a price-to-earnings ratio of 84.82, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a 50 day simple moving average of $95.19 and a 200-day simple moving average of $87.50. Boston Scientific Co. has a 1-year low of $64.54 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX) last posted its 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 18.11% and a net margin of 11.07%. On average, analysts expect that Boston Scientific Co. will post 2.83 EPS for the current year.

Insider Activity at Boston Scientific

In other news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,830 shares of company stock worth $5,149,969. Company insiders own 0.50% of the company’s stock.

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.