Raymond James Financial Services Advisors Inc. Grows Position in Boston Scientific Co. (NYSE:BSX)

Raymond James Financial Services Advisors Inc. grew its stake in Boston Scientific Co. (NYSE:BSX) by 14.5% during the 2nd quarter, Holdings Channel reports. The fund owned 611,693 shares of the medical equipment provider’s stock after acquiring an additional 77,677 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Boston Scientific were worth $47,106,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. CVA Family Office LLC boosted its holdings in shares of Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after purchasing an additional 131 shares during the last quarter. ST Germain D J Co. Inc. boosted its stake in Boston Scientific by 8.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after buying an additional 143 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in 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 buying an additional 148 shares during the period. Transcend Capital Advisors LLC lifted its holdings in shares of Boston Scientific by 2.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after acquiring an additional 148 shares during the period. Finally, KCM Investment Advisors LLC grew its holdings in Boston Scientific by 1.7% in the first quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock valued at $632,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.5 %

Shares of BSX traded up $0.43 during trading on Monday, reaching $78.68. The company’s stock had a trading volume of 4,277,654 shares, compared to its average volume of 6,213,024. The company has a market cap of $115.43 billion, a price-to-earnings ratio of 66.12, a P/E/G ratio of 2.49 and a beta of 0.78. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $76.43 and a two-hundred day moving average of $72.10. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $79.43.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Truist Financial raised their price objective on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Canaccord Genuity Group boosted their target price on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays lifted their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Argus increased their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $84.76.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction that occurred 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 transaction, 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 document filed with the SEC, which is available at this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 20,197 shares in the company, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,960 shares of company stock valued at $2,638,984. 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.