Boston Scientific Co. (NYSE:BSX) Stock Holdings Raised by LPL Financial LLC

LPL Financial LLC raised its stake in Boston Scientific Co. (NYSE:BSX) by 6.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,015,687 shares of the medical equipment provider’s stock after purchasing an additional 61,350 shares during the period. LPL Financial LLC owned 0.07% of Boston Scientific worth $78,218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Eagle Bay Advisors LLC grew its position in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. First Foundation Advisors bought a new stake in shares of Boston Scientific during the 1st quarter valued at about $25,000. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific during the 2nd quarter valued at about $26,000. Andra AP fonden bought a new stake in shares of Boston Scientific during the 2nd quarter valued at about $29,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Boston Scientific during the 1st quarter valued at about $30,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Raymond James boosted their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. Morgan Stanley upped their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Boston Scientific Stock Down 0.6 %

BSX stock opened at $83.31 on Friday. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $84.11. The firm has a market cap of $122.68 billion, a PE ratio of 70.01, a P/E/G ratio of 2.75 and a beta of 0.79. The firm has a 50 day simple moving average of $78.08 and a 200 day simple moving average of $74.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results 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 business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. Equities research analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 40,188 shares in the company, valued at approximately $2,978,734.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 20,949 shares of company stock worth $1,627,877. 0.50% of the stock is owned by corporate insiders.

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.