Ascent Group LLC Purchases 790 Shares of Boston Scientific Co. (NYSE:BSX)

Ascent Group LLC boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 11.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,480 shares of the medical equipment provider’s stock after acquiring an additional 790 shares during the quarter. Ascent Group LLC’s holdings in Boston Scientific were worth $576,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new position in Boston Scientific during the 2nd quarter valued at about $26,000. First Foundation Advisors bought a new position in Boston Scientific during the 1st quarter valued at about $25,000. Eagle Bay Advisors LLC grew its stake in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares in the last quarter. Andra AP fonden bought a new position in Boston Scientific in the 2nd quarter worth about $29,000. Finally, Lynx Investment Advisory bought a new position in Boston Scientific in the 2nd quarter worth about $30,000. 89.07% of the stock is currently owned by institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction 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 in the company, valued at $3,061,135.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX opened at $83.80 on Tuesday. The company has a market cap of $122.94 billion, a price-to-earnings ratio of 70.42, a price-to-earnings-growth ratio of 2.78 and a beta of 0.79. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $84.89. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $79.44 and a two-hundred day moving average of $75.43.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share 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 during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the firm earned $0.53 earnings per share. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. As a group, analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on BSX. Citigroup upped their target price on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays upped their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird upped their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Raymond James upped 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 note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, seventeen 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 an average rating of “Moderate Buy” and a consensus target price of $86.65.

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.