Tandem Capital Management Corp ADV Has $3.38 Million Position in Boston Scientific Co. (NYSE:BSX)

Tandem Capital Management Corp ADV reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,476 shares of the medical equipment provider’s stock after selling 1,400 shares during the quarter. Boston Scientific makes up approximately 2.1% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 12th largest position. Tandem Capital Management Corp ADV’s holdings in Boston Scientific were worth $3,380,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in Boston Scientific by 5.6% in the third quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after acquiring an additional 27,620 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Boston Scientific in the fourth quarter valued at approximately $5,116,000. Glenmede Trust Co. NA raised its position in shares of Boston Scientific by 12.1% in the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after purchasing an additional 1,123 shares during the period. Principal Financial Group Inc. raised its position in shares of Boston Scientific by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock valued at $98,683,000 after purchasing an additional 38,249 shares during the period. Finally, HealthInvest Partners AB bought a new position in shares of Boston Scientific in the fourth quarter valued at approximately $3,746,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC upped their target price on shares of Boston Scientific from $71.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday. Raymond James upped their target price on shares of Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Thursday. Finally, Mizuho upped their target price on shares of Boston Scientific from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $74.27.

Boston Scientific Price Performance

Shares of BSX stock traded up $0.39 during mid-day trading on Thursday, reaching $73.30. The company’s stock had a trading volume of 8,171,396 shares, compared to its average volume of 6,560,629. The company has a market cap of $107.54 billion, a P/E ratio of 68.50, a PEG ratio of 2.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The firm’s 50-day moving average is $67.68 and its two-hundred day moving average is $60.37. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $74.39.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same quarter last year, the company posted $0.45 EPS. On average, research analysts predict that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock worth $3,418,529 in the last quarter. 0.50% of the stock is owned by corporate 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.