Contravisory Investment Management Inc. Has $626,000 Stock Position in Boston Scientific Co. (NYSE:BSX)

Contravisory Investment Management Inc. lifted its stake in Boston Scientific Co. (NYSE:BSX) by 4.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,473 shares of the medical equipment provider’s stock after purchasing an additional 323 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Boston Scientific were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BSX. Bradley Foster & Sargent Inc. CT boosted its position in shares of Boston Scientific by 2.4% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 674,996 shares of the medical equipment provider’s stock valued at $39,022,000 after purchasing an additional 15,718 shares during the period. Harbert Fund Advisors Inc. boosted its position in shares of Boston Scientific by 225.0% in the 4th quarter. Harbert Fund Advisors Inc. now owns 32,500 shares of the medical equipment provider’s stock valued at $1,879,000 after purchasing an additional 22,500 shares during the period. Groupama Asset Managment acquired a new position in shares of Boston Scientific in the 4th quarter valued at $26,074,000. Parkman Healthcare Partners LLC boosted its position in shares of Boston Scientific by 9.3% in the 4th quarter. Parkman Healthcare Partners LLC now owns 652,803 shares of the medical equipment provider’s stock valued at $37,739,000 after purchasing an additional 55,543 shares during the period. Finally, PFM Health Sciences LP acquired a new position in shares of Boston Scientific in the 4th quarter valued at $13,767,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of research reports. Robert W. Baird raised their price objective on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Citigroup raised their price objective on Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price objective on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Raymond James raised their price objective on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Truist Financial raised their price objective on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

Boston Scientific Stock Down 0.6 %

Shares of BSX stock opened at $86.17 on Friday. The stock’s 50 day simple moving average is $80.74 and its 200 day simple moving average is $76.23. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $86.99. The company has a market capitalization of $126.90 billion, a price-to-earnings ratio of 70.06, a PEG ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data 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 return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the business earned $0.53 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, research analysts predict that Boston Scientific Co. will post 2.4 EPS for the current year.

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 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 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 filing with the SEC, which is available at the SEC website. 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 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 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 filing with the SEC, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock valued at $26,714,298 in the last three months. Company insiders own 0.50% of the company’s stock.

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.