Madison Investment Advisors LLC Invests $263,000 in Boston Scientific Co. (NYSE:BSX)

Madison Investment Advisors LLC purchased a new position in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,950 shares of the medical equipment provider’s stock, valued at approximately $263,000.

Other large investors have also recently bought and sold shares of the company. Mechanics Bank Trust Department purchased a new stake in Boston Scientific in the fourth quarter valued at approximately $415,000. Highland Capital Management LLC purchased a new stake in Boston Scientific in the fourth quarter valued at approximately $4,887,000. Covenant Asset Management LLC purchased a new stake in Boston Scientific in the fourth quarter valued at approximately $3,405,000. Brookstone Capital Management boosted its position in Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after buying an additional 20,307 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. boosted its position 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 valued at $1,744,000 after buying an additional 4,702 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BSX. JPMorgan Chase & Co. upped their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. 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. Argus set a $130.00 price target on Boston Scientific in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Friday, January 10th. Finally, Raymond James boosted their price target on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price of $108.91.

Boston Scientific Stock Down 0.8 %

NYSE BSX opened at $100.66 on Friday. The business has a fifty day moving average price of $101.68 and a 200 day moving average price of $92.43. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The company has a market cap of $148.55 billion, a P/E ratio of 80.53, a P/E/G ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock worth $14,319,269 in the last three months. 0.50% of the stock is owned by corporate insiders.

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.