Hennion & Walsh Asset Management Inc. Boosts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Hennion & Walsh Asset Management Inc. boosted its position in Boston Scientific Co. (NYSE:BSX) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,953 shares of the medical equipment provider’s stock after purchasing an additional 6,737 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Boston Scientific were worth $6,465,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sierra Summit Advisors LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth $8,038,000. TD Asset Management Inc increased its holdings in shares of 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 period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of 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 period. BDF Gestion bought a new position in shares of Boston Scientific in the second quarter worth $3,570,000. Finally, Precision Wealth Strategies LLC bought a new position in shares of Boston Scientific in the fourth quarter worth $956,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BSX shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Boston Scientific in a report on Thursday, July 25th. UBS Group upped their price target on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Needham & Company LLC increased their target price on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Canaccord Genuity Group increased their target price on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $84.76.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now 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 at this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the transaction, the executive vice president now owns 20,197 shares in the company, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,960 shares of company stock valued at $2,638,984. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 0.6 %

BSX traded up $0.45 on Monday, hitting $78.70. The company had a trading volume of 2,044,595 shares, compared to its average volume of 6,198,980. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $79.43. The stock has a fifty day simple moving average of $76.41 and a 200-day simple moving average of $72.01. The firm has a market capitalization of $115.46 billion, a P/E ratio of 65.76, a P/E/G ratio of 2.49 and a beta of 0.78.

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, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts expect that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

About Boston Scientific

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.