3,000 Shares in Boston Scientific Co. (NYSE:BSX) Acquired by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX purchased a new stake in Boston Scientific Co. (NYSE:BSX) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 3,000 shares of the medical equipment provider’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Eagle Bay Advisors LLC increased its position in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. First Foundation Advisors bought a new stake in shares of Boston Scientific during the 1st quarter worth $25,000. RiverPark Advisors LLC bought a new position in Boston Scientific in the first quarter valued at $30,000. Northwest Investment Counselors LLC purchased a new stake in Boston Scientific during the first quarter valued at about $31,000. Finally, Sachetta LLC bought a new stake in Boston Scientific during the fourth quarter worth about $32,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on BSX shares. Barclays lifted their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Morgan Stanley lifted their price objective on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Truist Financial raised their price target on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Evercore ISI raised their price target on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $84.76.

Boston Scientific Stock Down 0.9 %

Boston Scientific stock traded down $0.66 during mid-day trading on Friday, hitting $74.50. The company had a trading volume of 5,500,518 shares, compared to its average volume of 6,960,298. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $79.43. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $76.42 and its two-hundred day moving average price is $70.84. The company has a market capitalization of $109.30 billion, a PE ratio of 62.61, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. Boston Scientific’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the transaction, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the transaction, the executive vice president now owns 20,197 shares in the company, valued at approximately $1,521,641.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The disclosure for this sale can be found here. Insiders sold 51,837 shares of company stock valued at $3,884,563 over the last 90 days. Corporate 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.