Strategy Asset Managers LLC Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

Strategy Asset Managers LLC boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 153.8% in the third quarter, HoldingsChannel.com reports. The fund owned 20,240 shares of the medical equipment provider’s stock after buying an additional 12,265 shares during the quarter. Strategy Asset Managers LLC’s holdings in Boston Scientific were worth $1,696,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. CRA Financial Services LLC lifted its stake in Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after acquiring an additional 119 shares in the last quarter. Adero Partners LLC lifted its position in shares of Boston Scientific by 3.6% in the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after acquiring an additional 127 shares in the last quarter. Ashton Thomas Securities LLC boosted its stake in shares of Boston Scientific by 1.3% during the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after acquiring an additional 129 shares during the last quarter. Finally, CVA Family Office LLC raised its stake in Boston Scientific by 7.4% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

NYSE:BSX opened at $90.30 on Wednesday. Boston Scientific Co. has a 1-year low of $53.93 and a 1-year high of $91.08. The stock has a market cap of $133.09 billion, a P/E ratio of 74.63, a PEG ratio of 2.56 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a 50-day moving average of $85.56 and a two-hundred day moving average of $79.84.

Boston Scientific (NYSE:BSX) last issued 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. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the firm earned $0.50 EPS. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. On average, research analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. This trade represents a 45.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the transaction, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 309,270 shares of company stock worth $26,196,718. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BSX shares. Evercore ISI lifted their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Robert W. Baird increased their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted 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. Wells Fargo & Company upped their price target on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Mizuho lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Company 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.