Boston Scientific Co. (NYSE:BSX) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC increased its holdings in Boston Scientific Co. (NYSE:BSX) by 15.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,790 shares of the medical equipment provider’s stock after acquiring an additional 1,562 shares during the quarter. Parallel Advisors LLC’s holdings in Boston Scientific were worth $908,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BSX. Vanguard Group Inc. boosted its stake in shares of Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after buying an additional 1,988,082 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of Boston Scientific by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after buying an additional 550,490 shares during the last quarter. Capital World Investors raised its holdings in Boston Scientific by 69.9% in the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after acquiring an additional 6,588,256 shares in the last quarter. Putnam Investments LLC boosted its stake in Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after acquiring an additional 6,859,280 shares during the last quarter. Finally, Vontobel Asset Management Inc. grew its holdings in Boston Scientific by 10.2% during the 4th quarter. Vontobel Asset Management Inc. now owns 10,974,569 shares of the medical equipment provider’s stock worth $668,472,000 after acquiring an additional 1,015,140 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.2 %

Boston Scientific stock opened at $83.51 on Tuesday. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $84.11. The stock has a market cap of $122.52 billion, a price-to-earnings ratio of 70.18, a PEG ratio of 2.75 and a beta of 0.79. The company’s 50-day moving average price is $78.23 and its two-hundred day moving average price is $74.28. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 earnings per share. On average, analysts expect that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BSX. The Goldman Sachs Group initiated coverage on shares of Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price target on the stock. Raymond James boosted their price target on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Argus lifted their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Canaccord Genuity Group increased their target price on shares of Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Morgan Stanley lifted their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Three equities research 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.38.

Insider Activity at Boston Scientific

In other Boston Scientific 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 value of $517,579.96. Following the sale, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 20,949 shares of company stock valued at $1,627,877 over the last 90 days. 0.50% of the stock is currently 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.