Fermata Advisors LLC Acquires Shares of 2,846 Boston Scientific Co. (NYSE:BSX)

Fermata Advisors LLC bought a new stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,846 shares of the medical equipment provider's stock, valued at approximately $287,000.

Several other hedge funds have also recently made changes to their positions in BSX. Brighton Jones LLC raised its position in Boston Scientific by 0.8% in the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after purchasing an additional 226 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of Boston Scientific during the fourth quarter worth approximately $33,074,000. DAVENPORT & Co LLC boosted its stake in shares of Boston Scientific by 5.0% during the fourth quarter. DAVENPORT & Co LLC now owns 11,829 shares of the medical equipment provider's stock valued at $1,057,000 after purchasing an additional 561 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Boston Scientific by 28.6% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 3,723 shares of the medical equipment provider's stock valued at $333,000 after purchasing an additional 829 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of Boston Scientific by 136.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 23,590 shares of the medical equipment provider's stock valued at $2,107,000 after purchasing an additional 13,597 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BSX shares. Citigroup restated a "buy" rating and issued a $125.00 target price (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Truist Financial raised their target price on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Morgan Stanley raised their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. BTIG Research reaffirmed a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Twenty-one research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Boston Scientific presently has a consensus rating of "Buy" and an average price target of $116.00.

Boston Scientific Trading Up 0.2%

Shares of Boston Scientific stock opened at $102.67 on Friday. The firm has a market capitalization of $151.90 billion, a PE ratio of 82.14, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The firm's 50-day moving average price is $100.47 and its 200 day moving average price is $98.29. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

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

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president now owns 36,193 shares of the company's stock, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock worth $42,406,693 in the last ninety days. 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.

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