Arcadia Investment Management Corp MI Has $76,000 Stock Position in Boston Scientific Co. (NYSE:BSX)

Arcadia Investment Management Corp MI raised its holdings in Boston Scientific Co. (NYSE:BSX) by 36.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 856 shares of the medical equipment provider’s stock after purchasing an additional 230 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Boston Scientific were worth $76,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. TFC Financial Management Inc. lifted its position in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 210 shares during the last quarter. Values First Advisors Inc. acquired a new position in Boston Scientific during the third quarter worth about $28,000. Dunhill Financial LLC lifted its holdings in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares during the last quarter. Global Wealth Strategies & Associates boosted its stake in shares of Boston Scientific by 423.7% in 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. Finally, West Oak Capital LLC bought a new stake in shares of Boston Scientific during the 4th quarter valued at approximately $29,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $104.44 on Friday. The stock has a market cap of $154.12 billion, a price-to-earnings ratio of 83.55, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a fifty-two week low of $65.52 and a fifty-two week high of $107.17. The firm’s 50-day simple moving average is $97.98 and its 200 day simple moving average is $89.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

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, research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 2,657 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $104.41, for a total transaction of $277,417.37. Following the completion of the transaction, the executive vice president now owns 24,294 shares in the company, valued at $2,536,536.54. This trade represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel J. Brennan sold 15,087 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares in the company, 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. Insiders sold 153,640 shares of company stock worth $15,718,289 in the last quarter. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BSX has been the subject of several research reports. Truist Financial increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler increased their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley boosted their price objective 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. UBS Group increased their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Canaccord Genuity Group raised their price objective on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $107.39.

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.