Aptus Capital Advisors LLC Increases Stake in Boston Scientific Co. (NYSE:BSX)

Aptus Capital Advisors LLC increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 21.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,449 shares of the medical equipment provider’s stock after purchasing an additional 1,639 shares during the period. Aptus Capital Advisors LLC’s holdings in Boston Scientific were worth $728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BSX. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $26,000. First Foundation Advisors bought a new position in shares of Boston Scientific in the first quarter worth about $25,000. Eagle Bay Advisors LLC increased its stake in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares during the period. Lynx Investment Advisory bought a new stake in Boston Scientific during the 2nd quarter valued at about $30,000. Finally, RiverPark Advisors LLC purchased a new stake in Boston Scientific in the 1st quarter valued at about $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction 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 $2,978,734.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BSX shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Citigroup increased their price target on Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Raymond James lifted their price objective on Boston Scientific from $85.00 to $91.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Robert W. Baird raised their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group assumed coverage on shares of Boston Scientific in a research report on Thursday, May 30th. They issued a “buy” rating and a $90.00 price target for the company. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.24.

Boston Scientific Price Performance

Shares of BSX opened at $81.79 on Tuesday. The business’s 50-day moving average is $77.05 and its two-hundred day moving average is $73.14. The company has a market capitalization of $119.99 billion, a P/E ratio of 68.73, a P/E/G ratio of 2.71 and a beta of 0.78. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $82.10. 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 (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current 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.