J.W. Cole Advisors Inc. Increases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

J.W. Cole Advisors Inc. raised its stake in Boston Scientific Co. (NYSE:BSX) by 9.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,989 shares of the medical equipment provider’s stock after purchasing an additional 336 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Boston Scientific were worth $307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BSX. CVA Family Office LLC boosted its stake in shares of Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after buying an additional 131 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Boston Scientific by 0.6% in the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after buying an additional 139 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after buying an additional 143 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after buying an additional 148 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its stake in shares of Boston Scientific by 2.2% in the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after buying an additional 148 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this link. Insiders sold 20,949 shares of company stock valued at $1,627,877 over the last quarter. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

BSX stock opened at $82.57 on Thursday. The stock has a 50-day moving average price of $78.46 and a two-hundred day moving average price of $74.45. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $84.11. 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 cap of $121.14 billion, a PE ratio of 69.39, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79.

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, beating 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 firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, research analysts predict that Boston Scientific Co. will post 2.4 EPS for the current year.

Analysts Set New Price Targets

BSX has been the topic of a number of analyst reports. Evercore ISI lifted 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. Citigroup lifted their price objective on Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group began coverage on Boston Scientific in a report on Thursday, May 30th. They set a “buy” rating and a $90.00 price objective for the company. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $85.38.

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.