Oppenheimer & Co. Inc. Purchases 5,442 Shares of Boston Scientific Co. (NYSE:BSX)

Oppenheimer & Co. Inc. increased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 7.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,833 shares of the medical equipment provider’s stock after acquiring an additional 5,442 shares during the period. Oppenheimer & Co. Inc.’s holdings in Boston Scientific were worth $5,840,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Boston Scientific by 1.6% in the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after purchasing an additional 1,988,082 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Boston Scientific by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock valued at $2,191,326,000 after buying an additional 550,490 shares during the last quarter. Norges Bank acquired a new position in Boston Scientific during the 4th quarter worth about $930,626,000. Capital World Investors grew its holdings in Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after acquiring an additional 6,588,256 shares during the last quarter. Finally, Putnam Investments LLC increased its position in Boston Scientific by 110.5% in the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after acquiring an additional 6,859,280 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the sale, the executive vice president now directly owns 42,908 shares in the company, valued at $3,316,788.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BSX shares. BTIG Research upped their target price on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Truist Financial lifted their target price on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Evercore ISI upped their price target on Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Finally, StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $83.31 on Friday. The stock’s fifty day simple moving average is $78.08 and its 200 day simple moving average is $74.11. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $122.68 billion, a PE ratio of 70.01, a PEG ratio of 2.75 and a beta of 0.79. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $84.11.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping 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 company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the firm posted $0.53 earnings per share. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. On average, research analysts predict 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.