Forte Capital LLC ADV Purchases 158 Shares of Boston Scientific Co. (NYSE:BSX)

Forte Capital LLC ADV lifted its position in Boston Scientific Co. (NYSE:BSX) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,266 shares of the medical equipment provider’s stock after buying an additional 158 shares during the quarter. Forte Capital LLC ADV’s holdings in Boston Scientific were worth $560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TFC Financial Management Inc. boosted its position in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares during the period. Values First Advisors Inc. bought a new position in Boston Scientific during the third quarter worth $28,000. Dunhill Financial LLC boosted its position in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares during the period. Global Wealth Strategies & Associates boosted its position in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares during the period. Finally, West Oak Capital LLC bought a new position in Boston Scientific during the fourth quarter worth $29,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

NYSE:BSX opened at $104.44 on Friday. The stock has a market cap of $154.12 billion, a P/E ratio of 83.55, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock’s 50-day moving average is $97.98 and its 200-day moving average is $89.27. Boston Scientific Co. has a 1-year low of $65.52 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,640 shares of company stock worth $15,718,289 over the last ninety days. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their target price on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Canaccord Genuity Group lifted their target price on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler lifted their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Truist Financial lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.39.

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.