Choreo LLC Purchases New Shares in Boston Scientific Co. (NYSE:BSX)

Choreo LLC acquired a new stake in Boston Scientific Co. (NYSE:BSX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 27,117 shares of the medical equipment provider’s stock, valued at approximately $2,073,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of BSX. Sierra Summit Advisors LLC bought a new position in shares of Boston Scientific in the fourth quarter valued at about $8,038,000. TD Asset Management Inc lifted its position in shares of Boston Scientific by 10.7% during the fourth quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after purchasing an additional 155,565 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Boston Scientific by 225.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock valued at $7,237,000 after purchasing an additional 73,219 shares during the last quarter. BDF Gestion bought a new stake in shares of Boston Scientific during the second quarter valued at approximately $3,570,000. Finally, Precision Wealth Strategies LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $956,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.5 %

Shares of Boston Scientific stock opened at $83.04 on Wednesday. The company has a market capitalization of $122.29 billion, a P/E ratio of 69.78, a price-to-earnings-growth ratio of 2.71 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The business has a 50-day moving average of $77.65 and a two-hundred day moving average of $73.81. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $83.22.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the business earned $0.53 EPS. Boston Scientific’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts predict that Boston Scientific Co. will post 2.4 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays increased their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. BTIG Research lifted their price objective on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Robert W. Baird upped 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Truist Financial increased their price objective on shares of Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 20,949 shares of company stock worth $1,627,877 over the last ninety days. 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.