Pier 88 Investment Partners LLC Purchases 12,300 Shares of Boston Scientific Co. (NYSE:BSX)

Pier 88 Investment Partners LLC boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 42.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,000 shares of the medical equipment provider’s stock after purchasing an additional 12,300 shares during the quarter. Boston Scientific accounts for about 0.7% of Pier 88 Investment Partners LLC’s investment portfolio, making the stock its 27th biggest holding. Pier 88 Investment Partners LLC’s holdings in Boston Scientific were worth $3,157,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. CVA Family Office LLC lifted its position 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 acquiring an additional 131 shares in the last quarter. International Assets Investment Management LLC boosted its position in Boston Scientific by 0.6% during the 2nd quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock worth $1,740,000 after acquiring an additional 139 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after purchasing an additional 143 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 148 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its holdings in Boston Scientific by 2.2% during 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 during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 20,949 shares of company stock worth $1,627,877 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Citigroup lifted their target price on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Canaccord Genuity Group increased their price target on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Evercore ISI raised their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Finally, StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Thursday. Two 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Boston Scientific Trading Up 0.3 %

BSX stock opened at $81.60 on Friday. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $82.47. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The company’s 50-day simple moving average is $77.40 and its 200 day simple moving average is $73.53. The company has a market capitalization of $119.72 billion, a PE ratio of 68.57, a price-to-earnings-growth ratio of 2.71 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (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 16.59%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current year.

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.