Fidelis Capital Partners LLC Raises Holdings in Boston Scientific Co. (NYSE:BSX)

Fidelis Capital Partners LLC raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 9.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,108 shares of the medical equipment provider’s stock after acquiring an additional 1,263 shares during the period. Fidelis Capital Partners LLC’s holdings in Boston Scientific were worth $1,115,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the 2nd quarter worth about $26,000. First Foundation Advisors purchased a new stake in Boston Scientific during the first quarter worth approximately $25,000. Eagle Bay Advisors LLC increased its position in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares in the last quarter. Andra AP fonden purchased a new position in shares of Boston Scientific in the 2nd quarter valued at $29,000. Finally, Lynx Investment Advisory acquired a new position in shares of Boston Scientific during the 2nd quarter valued at $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the transaction, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 20,949 shares of company stock valued at $1,627,877. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial raised their price objective on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. The Goldman Sachs Group assumed coverage on Boston Scientific in a report on Thursday, May 30th. They set a “buy” rating and a $90.00 target price on the stock. BTIG Research upped their price target on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 15th. JPMorgan Chase & Co. increased their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird boosted their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.65.

Boston Scientific Stock Up 0.3 %

Shares of Boston Scientific stock opened at $83.92 on Monday. The business has a 50-day moving average price of $78.72 and a 200 day moving average price of $74.73. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $84.89. The firm has a market cap of $123.12 billion, a P/E ratio of 70.52, a P/E/G ratio of 2.75 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating 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 the consensus estimate of $4.02 billion. During the same period in the previous year, the business earned $0.53 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal 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.