Blue Trust Inc. Increases Stake in Boston Scientific Co. (NYSE:BSX)

Blue Trust Inc. lifted its position in Boston Scientific Co. (NYSE:BSX) by 91.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,492 shares of the medical equipment provider’s stock after acquiring an additional 5,017 shares during the quarter. Blue Trust Inc.’s holdings in Boston Scientific were worth $808,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. CRA Financial Services LLC lifted its position in shares of Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 117 shares during the period. CVA Family Office LLC boosted its position in Boston Scientific by 7.4% during the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after acquiring an additional 131 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Boston Scientific by 0.6% in the 2nd quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after acquiring an additional 139 shares during the period. ST Germain D J Co. Inc. raised its position in shares of Boston Scientific by 8.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after acquiring an additional 143 shares in the last quarter. Finally, Transcend Capital Advisors LLC lifted its stake in shares of Boston Scientific by 2.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 148 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock worth $26,714,298 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 1.9 %

Shares of BSX opened at $88.07 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 52 week low of $49.15 and a 52 week high of $88.71. The stock’s 50-day moving average price is $82.49 and its 200-day moving average price is $77.22. The company has a market capitalization of $129.21 billion, a price-to-earnings ratio of 74.01, a PEG ratio of 2.87 and a beta of 0.80.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Evercore ISI lifted their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Royal Bank of Canada increased their price objective on Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. BTIG Research boosted their target price on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Canaccord Genuity Group increased their price target on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.10.

Boston Scientific Company 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.