Atria Investments Inc Acquires 4,944 Shares of Boston Scientific Co. (NYSE:BSX)

Atria Investments Inc boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 12.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 44,754 shares of the medical equipment provider’s stock after purchasing an additional 4,944 shares during the period. Atria Investments Inc’s holdings in Boston Scientific were worth $3,065,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Swedbank AB bought a new stake in shares of Boston Scientific in the first quarter valued at about $100,113,000. Wahed Invest LLC lifted its holdings in shares of Boston Scientific by 16.8% in the first quarter. Wahed Invest LLC now owns 28,733 shares of the medical equipment provider’s stock valued at $1,968,000 after purchasing an additional 4,125 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of Boston Scientific in the first quarter valued at about $37,000. Plato Investment Management Ltd lifted its holdings in shares of Boston Scientific by 1,015.7% in the first quarter. Plato Investment Management Ltd now owns 17,360 shares of the medical equipment provider’s stock valued at $1,189,000 after purchasing an additional 15,804 shares in the last quarter. Finally, WealthPlan Investment Management LLC bought a new stake in shares of Boston Scientific in the first quarter valued at about $204,000. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Needham & Company LLC lifted their target price on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. UBS Group lifted their target price on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Canaccord Genuity Group lifted their target price on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.76.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded down $0.66 during trading on Friday, reaching $74.50. 5,500,518 shares of the stock were exchanged, compared to its average volume of 6,960,298. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $79.43. The firm has a market cap of $109.30 billion, a PE ratio of 62.60, a PEG ratio of 2.49 and a beta of 0.78. The stock has a 50-day moving average price of $76.42 and a 200-day moving average price of $70.84. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (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 16.80% and a net margin of 12.00%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. Research analysts expect that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a filing with the SEC, which is available at this link. In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares in the company, valued at $1,521,641.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total value of $286,874.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,837 shares of company stock worth $3,884,563. Company insiders own 0.50% of the company’s stock.

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.