Icon Wealth Advisors LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Icon Wealth Advisors LLC acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,171 shares of the medical equipment provider’s stock, valued at approximately $1,104,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BSX. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific during the second quarter worth $26,000. Values First Advisors Inc. bought a new position in shares of Boston Scientific during the third quarter worth about $28,000. Andra AP fonden acquired a new position in shares of Boston Scientific in the second quarter worth approximately $29,000. Lynx Investment Advisory bought a new stake in Boston Scientific in the second quarter valued at approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Boston Scientific during the 3rd quarter worth approximately $30,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 1.6 %

Boston Scientific stock opened at $90.00 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $132.64 billion, a P/E ratio of 74.38, a P/E/G ratio of 2.66 and a beta of 0.79. The firm has a 50 day moving average price of $85.99 and a 200-day moving average price of $80.12. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.93.

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

Insider Activity at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 45.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 314,147 shares of company stock worth $26,643,598. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BSX has been the topic of a number of analyst reports. Mizuho upped their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays lifted their price objective on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Citigroup raised their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Raymond James raised their target price on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average target price of $93.39.

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.