Savvy Advisors Inc. Purchases New Shares in Boston Scientific Co. (NYSE:BSX)

Savvy Advisors Inc. purchased a new position in Boston Scientific Co. (NYSE:BSX) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,228 shares of the medical equipment provider’s stock, valued at approximately $270,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the period. Capital World Investors grew its position in Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares in the last quarter. Legal & General Group Plc raised its stake in Boston Scientific by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after purchasing an additional 360,793 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after purchasing an additional 1,824,405 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Boston Scientific by 15.0% in the first quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock worth $540,879,000 after buying an additional 1,027,543 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial upped their price target on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada increased their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Bank of America boosted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus increased their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade 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 309,270 shares of company stock valued at $26,196,718 in the last three months. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

NYSE BSX opened at $88.77 on Thursday. The company has a market cap of $130.83 billion, a P/E ratio of 73.36, a P/E/G ratio of 2.61 and a beta of 0.79. Boston Scientific Co. has a 1 year low of $53.56 and a 1 year high of $89.30. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $84.89 and a 200 day simple moving average of $79.26.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period last year, the business posted $0.50 earnings per share. The firm’s revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts predict that Boston Scientific Co. will post 2.46 EPS for the current year.

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.