Boston Scientific Co. (NYSE:BSX) Stake Boosted by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its stake in Boston Scientific Co. (NYSE:BSX) by 73.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,431 shares of the medical equipment provider’s stock after acquiring an additional 34,180 shares during the period. Tower Research Capital LLC TRC’s holdings in Boston Scientific were worth $7,184,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Mechanics Bank Trust Department bought a new stake in Boston Scientific in the fourth quarter valued at $415,000. Highland Capital Management LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth approximately $4,887,000. Covenant Asset Management LLC acquired a new stake in Boston Scientific in the 4th quarter valued at approximately $3,405,000. Brookstone Capital Management boosted its position in Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after acquiring an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. increased 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 valued at $1,744,000 after purchasing an additional 4,702 shares during the period. 89.07% of the stock is owned by institutional investors.

Boston Scientific Price Performance

NYSE:BSX opened at $95.08 on Friday. 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 stock has a market cap of $140.63 billion, a P/E ratio of 76.06, a PEG ratio of 2.79 and a beta of 0.73. The company has a fifty day moving average price of $99.46 and a 200 day moving average price of $94.41. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BSX. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research report on Friday, January 10th. Raymond James increased 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. Piper Sandler boosted their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. UBS Group lifted their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Argus set a $130.00 target price on shares of Boston Scientific in a report on Tuesday, February 18th. One investment 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $110.22.

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, February 3rd. The stock was 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 approximately $560,103.60. This trade represents a 75.88 % 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 link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares in the company, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,183 shares of company stock valued at $13,948,476 over the last ninety days. 0.50% of the stock is owned by company insiders.

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.