D.A. Davidson & CO. Buys 342 Shares of Boston Scientific Co. (NYSE:BSX)

D.A. Davidson & CO. raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,945 shares of the medical equipment provider’s stock after acquiring an additional 342 shares during the period. D.A. Davidson & CO.’s holdings in Boston Scientific were worth $917,000 at the end of the most recent quarter.

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

Boston Scientific Stock Performance

Boston Scientific stock opened at $90.66 on Monday. The business has a 50 day moving average of $86.70 and a 200-day moving average of $80.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.93. The company has a market capitalization of $133.62 billion, a P/E ratio of 74.93, a P/E/G ratio of 2.67 and a beta of 0.79.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BSX shares. Truist Financial lifted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Bank of America increased their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Citigroup boosted their price target on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI increased 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. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Insiders Place Their Bets

In other news, CEO Michael F. Mahoney sold 162,777 shares of the business’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 value 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 9.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This trade represents a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 328,157 shares of company stock valued at $27,894,270. 0.50% of the stock is currently owned by company insiders.

About Boston Scientific

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.