HighPoint Advisor Group LLC Purchases New Stake in Boston Scientific Co. (NYSE:BSX)

HighPoint Advisor Group LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the 4th quarter, Holdings Channel.com reports. The fund purchased 8,121 shares of the medical equipment provider’s stock, valued at approximately $469,000.

Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC raised its stake in shares of Boston Scientific by 1,828.6% during the third quarter. V Square Quantitative Management LLC now owns 3,838 shares of the medical equipment provider’s stock valued at $203,000 after purchasing an additional 3,639 shares during the period. LPL Financial LLC raised its stake in shares of Boston Scientific by 5.1% during the third quarter. LPL Financial LLC now owns 362,592 shares of the medical equipment provider’s stock valued at $19,145,000 after purchasing an additional 17,463 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in shares of Boston Scientific by 5.2% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 6,025 shares of the medical equipment provider’s stock valued at $318,000 after purchasing an additional 300 shares during the period. Mariner LLC raised its stake in shares of Boston Scientific by 8.8% during the third quarter. Mariner LLC now owns 126,730 shares of the medical equipment provider’s stock valued at $6,691,000 after purchasing an additional 10,214 shares during the period. Finally, Humankind Investments LLC raised its stake in shares of Boston Scientific by 5.7% during the third quarter. Humankind Investments LLC now owns 13,100 shares of the medical equipment provider’s stock valued at $692,000 after purchasing an additional 709 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX opened at $76.31 on Thursday. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $77.64. The company has a market cap of $111.95 billion, a price-to-earnings ratio of 64.13, a price-to-earnings-growth ratio of 2.62 and a beta of 0.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The firm has a fifty day moving average of $73.55 and a 200-day moving average of $66.51.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,620,617. The disclosure for this sale can be found here. Insiders have sold a total of 81,627 shares of company stock worth $5,937,353 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BSX. Citigroup lifted their price objective on shares of Boston Scientific from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Needham & Company LLC restated a “buy” rating and issued a $82.00 price target on shares of Boston Scientific in a research note on Tuesday. Mizuho lifted their price target on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. TD Cowen lifted their price target on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, UBS Group lifted their price target on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.70.

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.