Creative Planning Increases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Creative Planning increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 13.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 189,545 shares of the medical equipment provider’s stock after purchasing an additional 22,901 shares during the period. Creative Planning’s holdings in Boston Scientific were worth $14,597,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific in the second quarter worth $26,000. First Foundation Advisors purchased a new stake in shares of Boston Scientific during the first quarter worth about $25,000. Eagle Bay Advisors LLC raised 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 valued at $25,000 after buying an additional 309 shares during the last quarter. Andra AP fonden acquired a new stake in shares of Boston Scientific during the second quarter worth $29,000. Finally, Lynx Investment Advisory purchased a new stake in Boston Scientific in the second quarter valued at approximately $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BSX has been the subject of a number of research analyst reports. Raymond James increased their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. TD Cowen raised their price target on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Canaccord Genuity Group upped their price target on shares of Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI boosted their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.65.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 0.5 %

BSX opened at $83.80 on Tuesday. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $84.89. The company has a market capitalization of $122.94 billion, a P/E ratio of 70.42, a P/E/G ratio of 2.78 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 firm’s fifty day moving average price is $79.44 and its two-hundred day moving average price is $75.43.

Boston Scientific (NYSE:BSX) last issued its 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. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current year.

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.