Schear Investment Advisers LLC Increases Position in Boston Scientific Co. (NYSE:BSX)

Schear Investment Advisers LLC increased its position in Boston Scientific Co. (NYSE:BSX) by 16.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,106 shares of the medical equipment provider’s stock after acquiring an additional 3,336 shares during the period. Boston Scientific makes up about 1.1% of Schear Investment Advisers LLC’s portfolio, making the stock its 23rd biggest holding. Schear Investment Advisers LLC’s holdings in Boston Scientific were worth $2,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Boston Scientific by 32.4% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,786 shares of the medical equipment provider’s stock worth $317,000 after purchasing an additional 927 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Boston Scientific during the 3rd quarter valued at approximately $89,000. Grove Bank & Trust boosted its holdings in shares of Boston Scientific by 12.9% in the 3rd quarter. Grove Bank & Trust now owns 2,801 shares of the medical equipment provider’s stock valued at $235,000 after acquiring an additional 320 shares during the last quarter. Creative Planning raised its holdings in shares of Boston Scientific by 7.7% during the third quarter. Creative Planning now owns 204,208 shares of the medical equipment provider’s stock worth $17,113,000 after purchasing an additional 14,663 shares during the last quarter. Finally, Boomfish Wealth Group LLC acquired a new position in Boston Scientific during the third quarter valued at $281,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other news, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the sale, the executive vice president now owns 29,308 shares of the company’s stock, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,830 shares of company stock worth $5,149,969. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BSX. Raymond James lifted their price objective on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted their price target on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Piper Sandler boosted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Citigroup raised their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $107.39.

Boston Scientific Trading Down 0.1 %

BSX opened at $106.03 on Wednesday. Boston Scientific Co. has a 1-year low of $64.54 and a 1-year high of $107.17. The firm has a market capitalization of $156.26 billion, a price-to-earnings ratio of 84.82, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The company’s 50 day simple moving average is $95.19 and its two-hundred day simple moving average is $87.50.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. Analysts expect that Boston Scientific Co. will post 2.83 EPS for the current fiscal 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.