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

Trifecta Capital Advisors LLC lifted its stake in Boston Scientific Co. (NYSE:BSX) by 77,790.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,945 shares of the medical equipment provider’s stock after buying an additional 38,895 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Boston Scientific were worth $3,479,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Boston Scientific by 4.4% in the third 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 in the last quarter. Mechanics Bank Trust Department purchased a new position in shares of Boston Scientific in the fourth quarter worth $415,000. Highland Capital Management LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth $4,887,000. Covenant Asset Management LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth $3,405,000. Finally, Brookstone Capital Management lifted its holdings in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after buying an additional 20,307 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel J. Brennan sold 67,333 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at approximately $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,630 shares of company stock valued at $14,467,616 over the last three months. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on BSX shares. Truist Financial boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Canaccord Genuity Group boosted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. UBS Group boosted their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Friday, January 10th. 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. According to data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $107.39.

Boston Scientific Stock Down 0.2 %

Shares of BSX opened at $104.30 on Tuesday. The firm has a market capitalization of $153.92 billion, a P/E ratio of 83.44, a P/E/G ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a 12-month low of $65.52 and a 12-month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average price of $98.25 and a 200-day moving average price of $89.69.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (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%. Equities research analysts expect 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.