Concurrent Investment Advisors LLC Boosts Stake in Boston Scientific Co. (NYSE:BSX)

Concurrent Investment Advisors LLC raised its position in Boston Scientific Co. (NYSE:BSX) by 5.8% during the third quarter, HoldingsChannel.com reports. The firm owned 9,724 shares of the medical equipment provider’s stock after buying an additional 530 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Boston Scientific were worth $815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Triad Wealth Partners LLC acquired a new position in Boston Scientific during the second quarter valued at approximately $26,000. Values First Advisors Inc. purchased a new position in shares of Boston Scientific in the 3rd quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Boston Scientific during the 3rd quarter worth $30,000. First Foundation Advisors purchased a new stake in Boston Scientific during the 1st quarter worth $25,000. Finally, Eagle Bay Advisors LLC raised its position in 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 during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on BSX. Sanford C. Bernstein upped their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus increased their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Robert W. Baird lifted their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Thursday, October 31st. Finally, Citigroup lifted their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Stock Up 1.6 %

Shares of NYSE:BSX opened at $88.25 on Friday. The company’s fifty day moving average is $84.61 and its two-hundred day moving average is $78.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.48. Boston Scientific Co. has a 1-year low of $50.84 and a 1-year high of $88.94. The stock has a market capitalization of $130.07 billion, a price-to-earnings ratio of 72.93, a price-to-earnings-growth ratio of 2.55 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. Equities analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 309,270 shares of company stock valued at $26,196,718. Insiders own 0.50% of the company’s stock.

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.