Cetera Investment Advisers Buys 8,399 Shares of Boston Scientific Co. (NYSE:BSX)

Cetera Investment Advisers increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 2.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 295,984 shares of the medical equipment provider’s stock after acquiring an additional 8,399 shares during the quarter. Cetera Investment Advisers’ holdings in Boston Scientific were worth $22,794,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Eagle Bay Advisors LLC increased its position in Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares during the period. First Foundation Advisors bought a new stake in shares of Boston Scientific in the first quarter valued at about $25,000. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific in the second quarter valued at about $26,000. Andra AP fonden bought a new position in Boston Scientific during the second quarter worth about $29,000. Finally, RiverPark Advisors LLC acquired a new stake in Boston Scientific in the 1st quarter worth about $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. BTIG Research raised their target price on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Robert W. Baird raised their price objective on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. TD Cowen upped their target price on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Evercore ISI upped their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.10.

Boston Scientific Stock Performance

Boston Scientific stock opened at $83.84 on Friday. The business has a 50 day moving average of $79.88 and a 200-day moving average of $75.68. The company has a market capitalization of $123.00 billion, a P/E ratio of 70.45, a P/E/G ratio of 2.78 and a beta of 0.79. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.89. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) 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 firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 20,949 shares of company stock valued at $1,673,685 in the last three months. Insiders own 0.50% of the company’s stock.

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.