Empowered Funds LLC Raises Position in Boston Scientific Co. (NYSE:BSX)

Empowered Funds LLC grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 7.9% in the third quarter, HoldingsChannel.com reports. The firm owned 23,413 shares of the medical equipment provider’s stock after buying an additional 1,715 shares during the quarter. Empowered Funds LLC’s holdings in Boston Scientific were worth $1,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific during the 2nd quarter valued at about $26,000. Values First Advisors Inc. purchased a new position in shares of Boston Scientific in the 3rd quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific during the third quarter valued at approximately $30,000. Capital Performance Advisors LLP purchased a new stake in Boston Scientific in the 3rd quarter valued at about $30,000. Finally, Andra AP fonden bought a new stake in Boston Scientific during the 2nd quarter valued at $29,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

BSX opened at $90.17 on Thursday. The stock has a market capitalization of $132.90 billion, a PE ratio of 74.52, a P/E/G ratio of 2.56 and a beta of 0.79. The company’s 50 day simple moving average is $85.71 and its 200 day simple moving average is $79.92. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 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 for the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the company posted $0.50 EPS. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on BSX. Robert W. Baird upped their target price on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Barclays lifted their price objective on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. BTIG Research lifted their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Evercore ISI upped their target price 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Monday. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 45.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction that occurred on 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 directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 309,270 shares of company stock valued at $26,196,718. 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.