Patriot Financial Group Insurance Agency LLC Increases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,273 shares of the medical equipment provider’s stock after buying an additional 400 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Boston Scientific were worth $945,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Sierra Summit Advisors LLC purchased a new position in Boston Scientific in the fourth quarter worth $8,038,000. TD Asset Management Inc boosted its position in Boston Scientific by 10.7% in the fourth quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after purchasing an additional 155,565 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Boston Scientific by 225.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after purchasing an additional 73,219 shares during the last quarter. BDF Gestion purchased a new position in Boston Scientific in the second quarter worth $3,570,000. Finally, Precision Wealth Strategies LLC purchased a new position in Boston Scientific in the fourth quarter worth $956,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded down $0.54 during midday trading on Wednesday, reaching $79.29. 979,522 shares of the company traded hands, compared to its average volume of 6,079,217. The firm has a market capitalization of $116.33 billion, a price-to-earnings ratio of 67.08, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average price is $76.66 and its two-hundred day moving average price is $72.61. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $80.02.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. On average, equities analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. TD Cowen boosted their price objective on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Needham & Company LLC upped their price target on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price target on shares of Boston Scientific in a research report on Thursday, July 25th. Mizuho upped their price target on Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Finally, Robert W. Baird upped their price target on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.24.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 20,949 shares of company stock worth $1,583,395 in the last ninety days. 0.50% of the stock is currently owned by insiders.

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.