Wedmont Private Capital Buys 1,574 Shares of Boston Scientific Co. (NYSE:BSX)

Wedmont Private Capital raised its position in Boston Scientific Co. (NYSE:BSX) by 9.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,730 shares of the medical equipment provider’s stock after buying an additional 1,574 shares during the quarter. Wedmont Private Capital’s holdings in Boston Scientific were worth $1,581,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC grew its position in shares of Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after purchasing an additional 131 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Boston Scientific by 0.6% in the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock worth $1,740,000 after purchasing an additional 139 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after acquiring an additional 143 shares during the period. Pinnacle Associates Ltd. grew its stake in shares of Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 148 shares during the last quarter. Finally, Transcend Capital Advisors LLC grew its position in shares of Boston Scientific by 2.2% in the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 148 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on BSX. JPMorgan Chase & Co. raised their target price on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Evercore ISI upped their price target on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Raymond James increased their price target on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Truist Financial raised their price objective on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

Boston Scientific Trading Down 0.6 %

BSX opened at $86.17 on Friday. The firm has a market cap of $126.42 billion, a price-to-earnings ratio of 72.41, a PEG ratio of 2.78 and a beta of 0.80. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $86.99. The stock has a fifty day moving average price of $80.74 and a 200-day moving average price of $76.23.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares in the company, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares in the company, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock worth $26,714,298 in the last ninety days. 0.50% of the stock is owned by 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.