Boston Scientific Co. (NYSE:BSX) Stake Raised by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC grew its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 14.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,781 shares of the medical equipment provider’s stock after purchasing an additional 484 shares during the period. Resonant Capital Advisors LLC’s holdings in Boston Scientific were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in BSX. Triad Wealth Partners LLC acquired a new position in Boston Scientific in the second quarter worth approximately $26,000. First Foundation Advisors purchased a new stake in shares of Boston Scientific during the first quarter valued at $25,000. Eagle Bay Advisors LLC boosted its position in shares of Boston Scientific by 542.1% in the 1st 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. Lynx Investment Advisory purchased a new stake in Boston Scientific during the second quarter valued at about $30,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Boston Scientific during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BSX. Mizuho raised their price target on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Truist Financial upped their price target on shares of Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Barclays lifted their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Evercore ISI upped their target price on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.24.

Insider Buying and Selling

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the transaction, the executive vice president now owns 40,188 shares in the company, valued at approximately $2,978,734.56. The sale was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Up 1.4 %

BSX opened at $81.79 on Tuesday. The stock has a market capitalization of $119.99 billion, a price-to-earnings ratio of 68.73, a P/E/G ratio of 2.71 and a beta of 0.78. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $82.10. The business has a 50 day moving average of $77.05 and a 200-day moving average of $73.14. 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 quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share 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.