AlphaCentric Advisors LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

AlphaCentric Advisors LLC bought a new stake in Boston Scientific Co. (NYSE:BSX) in the 4th quarter, HoldingsChannel.com reports. The firm bought 18,667 shares of the medical equipment provider’s stock, valued at approximately $1,667,000. Boston Scientific makes up 1.7% of AlphaCentric Advisors LLC’s investment portfolio, making the stock its 15th biggest holding.

Several other large investors also recently made changes to their positions in BSX. Creative Planning lifted its position in Boston Scientific by 7.7% in the 3rd quarter. Creative Planning now owns 204,208 shares of the medical equipment provider’s stock valued at $17,113,000 after acquiring an additional 14,663 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Boston Scientific by 11.5% in the 3rd quarter. Global Retirement Partners LLC now owns 4,370 shares of the medical equipment provider’s stock worth $366,000 after buying an additional 449 shares during the last quarter. Stratos Wealth Advisors LLC boosted its stake in shares of Boston Scientific by 8.9% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,419 shares of the medical equipment provider’s stock worth $538,000 after buying an additional 522 shares during the last quarter. Net Worth Advisory Group purchased a new position in shares of Boston Scientific in the 3rd quarter worth approximately $373,000. Finally, Moss Adams Wealth Advisors LLC purchased a new position in shares of Boston Scientific in the 3rd quarter worth approximately $256,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BSX. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Friday, January 10th. Piper Sandler boosted their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Thursday, February 6th. Finally, Raymond James upped their price objective 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. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $107.39.

Boston Scientific Stock Up 0.1 %

Shares of NYSE:BSX opened at $106.20 on Monday. Boston Scientific Co. has a 52-week low of $65.33 and a 52-week high of $107.17. The firm has a fifty day moving average of $96.44 and a 200 day moving average of $88.29. The firm has a market capitalization of $156.51 billion, a PE ratio of 84.96, 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 quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. As a group, research analysts anticipate that Boston Scientific Co. will post 2.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Daniel J. Brennan sold 15,087 shares of the firm’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 owns 241,451 shares of the company’s stock, valued at $25,369,256.57. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 6,389 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $105.06, for a total transaction of $671,228.34. Following the sale, the executive vice president now directly owns 24,293 shares of the company’s stock, valued at $2,552,222.58. This trade represents a 20.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,326 shares of company stock valued at $8,673,948 over the last three months. Corporate insiders own 0.50% of the company’s stock.

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.