Resources Management Corp CT ADV Grows Position in Boston Scientific Co. (NYSE:BSX)

Resources Management Corp CT ADV boosted its holdings in Boston Scientific Co. (NYSE:BSX) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,648 shares of the medical equipment provider’s stock after buying an additional 500 shares during the quarter. Resources Management Corp CT ADV’s holdings in Boston Scientific were worth $1,060,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its holdings in shares of Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP grew its position in Boston Scientific by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after purchasing an additional 718,515 shares during the period. Legal & General Group Plc raised its stake in Boston Scientific by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after buying an additional 360,793 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Boston Scientific by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock valued at $671,940,000 after buying an additional 64,720 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after buying an additional 1,824,405 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BSX shares. Mizuho increased their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group increased their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday. Barclays boosted their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Royal Bank of Canada increased their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, 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 research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.52.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the transaction, the executive vice president now owns 29,308 shares in the company, valued at $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 328,157 shares of company stock worth $27,957,676 over the last three months. 0.50% of the stock is owned by insiders.

Boston Scientific Trading Down 1.5 %

Shares of BSX opened at $88.74 on Tuesday. Boston Scientific Co. has a fifty-two week low of $54.86 and a fifty-two week high of $91.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company’s fifty day moving average is $87.50 and its 200 day moving average is $81.44. The stock has a market capitalization of $130.78 billion, a PE ratio of 73.33, a P/E/G ratio of 2.65 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted $0.50 earnings per share. Sell-side analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal 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.