Parallel Advisors LLC Increases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Parallel Advisors LLC increased its holdings in Boston Scientific Co. (NYSE:BSX) by 11.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,711 shares of the medical equipment provider’s stock after acquiring an additional 1,453 shares during the period. Parallel Advisors LLC’s holdings in Boston Scientific were worth $1,314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cibc World Markets Corp lifted its stake in Boston Scientific by 5.5% in the fourth quarter. Cibc World Markets Corp now owns 632,519 shares of the medical equipment provider’s stock worth $56,497,000 after acquiring an additional 32,774 shares during the period. SouthState Corp lifted its position in Boston Scientific by 1.9% during the fourth quarter. SouthState Corp now owns 160,710 shares of the medical equipment provider’s stock valued at $14,355,000 after buying an additional 2,977 shares during the period. GLOBALT Investments LLC GA lifted its position in Boston Scientific by 9.1% during the fourth quarter. GLOBALT Investments LLC GA now owns 9,349 shares of the medical equipment provider’s stock valued at $835,000 after buying an additional 779 shares during the period. Corient Private Wealth LLC lifted its position in Boston Scientific by 1.2% during the fourth quarter. Corient Private Wealth LLC now owns 170,536 shares of the medical equipment provider’s stock valued at $15,232,000 after buying an additional 2,097 shares during the period. Finally, Gitterman Wealth Management LLC lifted its position in Boston Scientific by 4.4% during the fourth quarter. Gitterman Wealth Management LLC now owns 3,959 shares of the medical equipment provider’s stock valued at $354,000 after buying an additional 168 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated 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 transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. The trade was a 75.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific 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 transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,302 shares of company stock valued at $14,319,269. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.3 %

Shares of NYSE:BSX opened at $99.17 on Wednesday. The stock has a market capitalization of $146.36 billion, a price-to-earnings ratio of 79.34, a PEG ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The stock’s 50-day simple moving average is $101.35 and its two-hundred day simple moving average is $92.09. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week high of $107.17.

Boston Scientific (NYSE:BSX) last announced its 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%. Analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on BSX shares. Piper Sandler raised their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Truist Financial raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Citigroup raised their price objective on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Friday, January 10th. Finally, Stifel Nicolaus raised their price target on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

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.