Evergreen Capital Management LLC Has $458,000 Stock Position in Boston Scientific Co. (NYSE:BSX)

Evergreen Capital Management LLC raised its stake in Boston Scientific Co. (NYSE:BSX) by 28.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,950 shares of the medical equipment provider’s stock after buying an additional 1,315 shares during the quarter. Evergreen Capital Management LLC’s holdings in Boston Scientific were worth $458,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSX. Eagle Bay Advisors LLC increased its holdings 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 valued at $25,000 after purchasing an additional 309 shares in the last quarter. First Foundation Advisors acquired a new stake in Boston Scientific in the first quarter worth about $25,000. Triad Wealth Partners LLC bought a new stake in Boston Scientific during the 2nd quarter worth about $26,000. Andra AP fonden bought a new stake in Boston Scientific in the second quarter valued at about $29,000. Finally, RiverPark Advisors LLC acquired a new position in Boston Scientific during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.5 %

NYSE:BSX opened at $83.08 on Friday. The firm has a market capitalization of $121.89 billion, a price-to-earnings ratio of 69.63, a price-to-earnings-growth ratio of 2.78 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 Co. has a twelve month low of $48.35 and a twelve month high of $84.89. The stock’s 50 day moving average price is $79.06 and its two-hundred day moving average price is $75.02.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BSX shares. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price objective on shares of Boston Scientific in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Raymond James lifted their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Needham & Company LLC raised their price objective on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $86.65.

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 that occurred on Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the transaction, the executive vice president now owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders sold 20,949 shares of company stock worth $1,627,877. 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.