Boston Scientific Co. (NYSE:BSX) Shares Bought by Stonegate Investment Group LLC

Stonegate Investment Group LLC grew its position in Boston Scientific Co. (NYSE:BSX) by 7.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,701 shares of the medical equipment provider’s stock after purchasing an additional 534 shares during the quarter. Stonegate Investment Group LLC’s holdings in Boston Scientific were worth $645,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. NBC Securities Inc. boosted its position in shares of Boston Scientific by 4.4% during the 1st quarter. NBC Securities Inc. now owns 7,367 shares of the medical equipment provider’s stock worth $514,000 after acquiring an additional 311 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Boston Scientific by 16.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,985 shares of the medical equipment provider’s stock worth $273,000 after purchasing an additional 576 shares during the last quarter. Banque Cantonale Vaudoise boosted its holdings in Boston Scientific by 3.5% in the first quarter. Banque Cantonale Vaudoise now owns 26,565 shares of the medical equipment provider’s stock valued at $1,819,000 after purchasing an additional 886 shares in the last quarter. Park Avenue Securities LLC increased its stake in Boston Scientific by 12.8% in the first quarter. Park Avenue Securities LLC now owns 12,435 shares of the medical equipment provider’s stock valued at $852,000 after purchasing an additional 1,413 shares during the last quarter. Finally, First Affirmative Financial Network raised its holdings in Boston Scientific by 4.3% during the first quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock worth $276,000 after purchasing an additional 166 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on BSX. Evercore ISI increased their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Canaccord Genuity Group raised their price objective on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Morgan Stanley boosted their target price on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Citigroup raised their price target on Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Needham & Company LLC lowered Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.10.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $88.07 on Friday. Boston Scientific Co. has a 52 week low of $49.15 and a 52 week high of $88.71. The company has a 50-day moving average price of $82.49 and a 200 day moving average price of $77.09. The company has a market cap of $129.21 billion, a P/E ratio of 74.01, a PEG ratio of 2.87 and a beta of 0.80. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.59% 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 last year, the firm earned $0.53 EPS. Research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is owned by company 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.