Boston Scientific Co. (NYSE:BSX) Shares Purchased by Strategy Asset Managers LLC

Strategy Asset Managers LLC raised its position in Boston Scientific Co. (NYSE:BSX) by 153.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,240 shares of the medical equipment provider’s stock after acquiring an additional 12,265 shares during the quarter. Strategy Asset Managers LLC’s holdings in Boston Scientific were worth $1,696,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Triad Wealth Partners LLC purchased a new stake in Boston Scientific during the 2nd quarter worth approximately $26,000. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific during the third quarter worth $28,000. Andra AP fonden acquired a new stake in shares of Boston Scientific in the second quarter valued at $29,000. Lynx Investment Advisory purchased a new position in Boston Scientific in the second quarter valued at $30,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Boston Scientific during the 3rd quarter worth $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Shares of BSX stock opened at $90.30 on Wednesday. The stock’s 50-day moving average price is $85.56 and its 200 day moving average price is $79.84. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $133.09 billion, a PE ratio of 74.63, a price-to-earnings-growth ratio of 2.56 and a beta of 0.79. Boston Scientific Co. has a 52-week low of $53.93 and a 52-week high of $91.08.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Royal Bank of Canada increased their price target on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen lifted their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Truist Financial boosted their price target 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. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Evercore ISI increased their target price on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report 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 company. According to MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. This trade represents a 15.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This represents a 45.23 % 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 worth $26,196,718. Company 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.