Alteri Wealth LLC Makes New Investment in Boston Scientific Co. (NYSE:BSX)

Alteri Wealth LLC acquired a new position in Boston Scientific Co. (NYSE:BSX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,945 shares of the medical equipment provider's stock, valued at approximately $888,000.

Other institutional investors have also added to or reduced their stakes in the company. TFC Financial Management Inc. lifted its position in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 210 shares during the period. West Oak Capital LLC acquired a new position in shares of Boston Scientific during the fourth quarter valued at about $29,000. Valley National Advisers Inc. boosted its position in shares of Boston Scientific by 262.4% during the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 286 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of Boston Scientific during the 4th quarter worth about $36,000. Finally, Global Trust Asset Management LLC grew its stake in shares of Boston Scientific by 64.5% in the 4th quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider's stock valued at $39,000 after buying an additional 171 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP John Bradley Sorenson sold 6,528 shares of Boston Scientific stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the completion of the transaction, the executive vice president now directly owns 26,449 shares in the company, valued at approximately $2,776,351.53. The trade was a 19.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the transaction, the executive vice president now directly owns 22,235 shares of the company's stock, valued at $2,269,304.10. The trade was a 43.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 302,453 shares of company stock valued at $31,264,103 in the last 90 days. Insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on BSX shares. Citigroup increased their price target on Boston Scientific from $107.00 to $122.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Stifel Nicolaus increased their target price on Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Barclays boosted their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC upped their target price on shares of Boston Scientific from $113.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Twenty-three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific has a consensus rating of "Buy" and an average price target of $114.52.

Boston Scientific Stock Performance

NYSE BSX traded down $0.70 during trading hours on Monday, reaching $104.23. 4,822,531 shares of the company were exchanged, compared to its average volume of 6,336,316. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $154.16 billion, a P/E ratio of 83.38, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17. The business's 50 day simple moving average is $98.64 and its 200-day simple moving average is $95.60.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. Boston Scientific's revenue was up 20.9% on a year-over-year basis. On average, equities research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.