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

Mariner LLC grew its stake in Boston Scientific Co. (NYSE:BSX) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 175,766 shares of the medical equipment provider’s stock after purchasing an additional 11,030 shares during the period. Mariner LLC’s holdings in Boston Scientific were worth $15,700,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mechanics Bank Trust Department purchased a new position in Boston Scientific during the 4th quarter worth $415,000. Highland Capital Management LLC acquired a new stake in Boston Scientific in the fourth quarter valued at about $4,887,000. Covenant Asset Management LLC purchased a new stake in Boston Scientific in the 4th quarter valued at approximately $3,405,000. Brookstone Capital Management increased 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 purchasing an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. raised its stake in shares of Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after buying an additional 4,702 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $95.28 on Thursday. 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 company has a market cap of $140.93 billion, a PE ratio of 76.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The company has a 50-day simple moving average of $99.90 and a 200-day simple moving average of $94.18. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly 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%. On average, equities analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 6,528 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the completion of the sale, the executive vice president now directly owns 26,449 shares of the company’s stock, valued at $2,776,351.53. The trade was a 19.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the transaction, the executive vice president now owns 5,502 shares in the company, valued at $560,103.60. The trade was a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,183 shares of company stock worth $13,948,476 in the last 90 days. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on BSX shares. Wells Fargo & Company lifted their price target on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Morgan Stanley upped their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Argus set a $130.00 price objective on shares of Boston Scientific in a research note on Tuesday, February 18th. Piper Sandler upped their target price 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. Finally, Barclays lifted their price target on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $110.22.

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.