14,408 Shares in Boston Scientific Co. (NYSE:BSX) Bought by Vega Investment Solutions

Vega Investment Solutions bought a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,408 shares of the medical equipment provider's stock, valued at approximately $1,287,000. Boston Scientific comprises about 1.1% of Vega Investment Solutions' holdings, making the stock its 22nd largest position.

A number of other hedge funds have also bought and sold shares of BSX. Highland Capital Management LLC acquired a new stake in Boston Scientific in the fourth quarter worth $4,887,000. Covenant Asset Management LLC acquired a new stake in Boston Scientific in the fourth quarter worth $3,405,000. Beacon Investment Advisory Services Inc. grew its holdings in Boston Scientific by 31.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock worth $1,744,000 after purchasing an additional 4,702 shares during the period. Oak Harvest Investment Services grew its holdings in Boston Scientific by 262.5% in the fourth quarter. Oak Harvest Investment Services now owns 40,776 shares of the medical equipment provider's stock worth $3,642,000 after purchasing an additional 29,526 shares during the period. Finally, Blue Trust Inc. grew its holdings in Boston Scientific by 43.7% in the fourth quarter. Blue Trust Inc. now owns 15,077 shares of the medical equipment provider's stock worth $1,263,000 after purchasing an additional 4,585 shares during the period. Institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Performance

NYSE BSX opened at $104.42 on Friday. The company's 50 day moving average is $99.87 and its 200-day moving average is $97.16. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.17. 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 firm has a market cap of $154.48 billion, a P/E ratio of 83.54, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $4.57 billion. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The company's quarterly revenue was up 20.9% compared to the same quarter last year. Sell-side analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the sale, the executive vice president now owns 18,705 shares of the company's stock, valued at approximately $1,955,420.70. This represents a 19.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now directly owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,830 shares of company stock valued at $20,043,415. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BSX shares. Morgan Stanley lifted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Piper Sandler boosted their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Robert W. Baird boosted their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Twenty-three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $114.87.

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.

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