Independent Advisor Alliance Sells 219 Shares of Boston Scientific Co. (NYSE:BSX)

Independent Advisor Alliance reduced its holdings in Boston Scientific Co. (NYSE:BSX) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,014 shares of the medical equipment provider’s stock after selling 219 shares during the quarter. Independent Advisor Alliance’s holdings in Boston Scientific were worth $504,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CRA Financial Services LLC boosted its holdings in Boston Scientific by 4.3% in the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after acquiring an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Boston Scientific by 9.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 119 shares during the period. Adero Partners LLC increased its position in shares of Boston Scientific by 3.6% during the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after buying an additional 127 shares during the period. Ashton Thomas Securities LLC lifted its holdings in Boston Scientific by 1.3% in the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock worth $835,000 after buying an additional 129 shares during the period. Finally, CVA Family Office LLC lifted its holdings in Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after buying an additional 131 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Evercore ISI increased their target price on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company increased their price objective on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Mizuho boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada increased their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus boosted their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Insider Transactions at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares in the company, valued at $87,306.06. This represents a 93.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock worth $27,894,270 in the last ninety days. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $90.76 on Thursday. The business has a 50-day simple moving average of $86.43 and a two-hundred day simple moving average of $80.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The firm has a market cap of $133.76 billion, a price-to-earnings ratio of 75.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.79. Boston Scientific Co. has a fifty-two week low of $53.93 and a fifty-two week high of $91.93.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. On average, analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

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.