Lynx Investment Advisory Takes $30,000 Position in Boston Scientific Co. (NYSE:BSX)

Lynx Investment Advisory acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 393 shares of the medical equipment provider’s stock, valued at approximately $30,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ST Germain D J Co. Inc. grew its holdings in shares of Boston Scientific by 8.0% during the 2nd 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 in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Boston Scientific by 2.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after purchasing an additional 148 shares during the last quarter. Transcend Capital Advisors LLC boosted its holdings in Boston Scientific by 2.2% in the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 148 shares in the last quarter. KCM Investment Advisors LLC increased its position in Boston Scientific by 1.7% during the first quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock worth $632,000 after buying an additional 150 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in Boston Scientific by 24.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 826 shares of the medical equipment provider’s stock valued at $57,000 after buying an additional 160 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 value of $1,055,588.74. Following the sale, the executive vice president now 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 SEC, which can be accessed through the SEC website. In related news, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, 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 available at the SEC website. Also, EVP Eric Francis Yves Thepaut sold 12,931 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $74.14, for a total value of $958,704.34. Following the completion of the transaction, the executive vice president now directly owns 31,422 shares in the company, valued at approximately $2,329,627.08. The disclosure for this sale can be found here. Insiders sold 47,891 shares of company stock worth $3,597,688 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BSX. Robert W. Baird upped their price target on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price target on shares of Boston Scientific in a report on Thursday, July 25th. Truist Financial boosted their price objective on shares of Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. UBS Group raised their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, TD Cowen boosted their target price on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

Boston Scientific Price Performance

Shares of BSX stock traded up $0.42 during mid-day trading on Wednesday, reaching $74.18. The company’s stock had a trading volume of 1,637,476 shares, compared to its average volume of 6,300,954. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The firm’s 50-day moving average is $76.34 and its two-hundred day moving average is $71.16. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $79.43. The company has a market cap of $108.83 billion, a P/E ratio of 62.30, a PEG ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current year.

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.