Verdence Capital Advisors LLC Acquires 165 Shares of Boston Scientific Co. (NYSE:BSX)

Verdence Capital Advisors LLC grew its holdings in Boston Scientific Co. (NYSE:BSX) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,007 shares of the medical equipment provider’s stock after acquiring an additional 165 shares during the period. Verdence Capital Advisors LLC’s holdings in Boston Scientific were worth $336,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BSX. BDF Gestion acquired a new position in Boston Scientific during the second quarter worth $3,570,000. LRI Investments LLC bought a new position in shares of Boston Scientific in the 1st quarter valued at approximately $139,000. Cetera Advisor Networks LLC lifted its holdings in Boston Scientific by 11.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after purchasing an additional 21,252 shares during the last quarter. Brookstone Capital Management boosted its position in Boston Scientific by 389.1% during the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after purchasing an additional 55,645 shares during the period. Finally, Empowered Funds LLC grew its holdings in Boston Scientific by 56.6% during the first quarter. Empowered Funds LLC now owns 24,858 shares of the medical equipment provider’s stock valued at $1,703,000 after purchasing an additional 8,982 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the transaction, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BSX shares. Evercore ISI boosted their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Morgan Stanley upped their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Barclays lifted their price objective on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price objective on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, BTIG Research raised their target price on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Trading Up 0.3 %

Shares of BSX opened at $88.48 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The stock has a market cap of $130.40 billion, a PE ratio of 73.12, a PEG ratio of 2.60 and a beta of 0.79. Boston Scientific Co. has a 1 year low of $52.99 and a 1 year high of $88.94. The stock has a 50 day simple moving average of $84.61 and a 200-day simple moving average of $79.05.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period in the prior year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, sell-side analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

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.