Pictet North America Advisors SA Buys 2,531 Shares of Boston Scientific Co. (NYSE:BSX)

Pictet North America Advisors SA boosted its stake in Boston Scientific Co. (NYSE:BSX) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,258 shares of the medical equipment provider’s stock after purchasing an additional 2,531 shares during the period. Pictet North America Advisors SA’s holdings in Boston Scientific were worth $5,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Eagle Bay Advisors LLC grew its position in shares of Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares during the last quarter. First Foundation Advisors bought a new position in Boston Scientific in the 1st quarter worth $25,000. Triad Wealth Partners LLC bought a new position in Boston Scientific in the 2nd quarter worth $26,000. RiverPark Advisors LLC purchased a new stake in shares of Boston Scientific in the 1st quarter worth about $30,000. Finally, Lynx Investment Advisory bought a new stake in shares of Boston Scientific during the 2nd quarter valued at about $30,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE BSX traded down $0.41 during trading on Friday, hitting $79.17. The company had a trading volume of 4,006,157 shares, compared to its average volume of 6,148,074. The stock has a 50 day simple moving average of $76.59 and a 200 day simple moving average of $72.46. The firm has a market capitalization of $116.15 billion, a P/E ratio of 66.53, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $79.92.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data 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 company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 earnings per share. As a group, analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the sale, the executive vice president now directly owns 45,628 shares in the company, valued at $3,437,157.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.33, for a total value 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 $3,437,157.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction that occurred on 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 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. Insiders sold 34,960 shares of company stock worth $2,638,984 over the last 90 days. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on BSX. Citigroup upped their price target on Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Canaccord Genuity Group boosted their price objective on shares of Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Barclays raised their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.24.

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.