Boston Family Office LLC Acquires 250 Shares of Boston Scientific Co. (NYSE:BSX)

Boston Family Office LLC lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,694 shares of the medical equipment provider’s stock after acquiring an additional 250 shares during the quarter. Boston Family Office LLC’s holdings in Boston Scientific were worth $729,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BSX. Marshall Wace LLP increased its stake in shares of Boston Scientific by 115.9% in the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after buying an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd increased its stake in shares of Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after buying an additional 2,615,903 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Boston Scientific by 30.0% in the second 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 period. Swedbank AB purchased a new position in shares of Boston Scientific in the first quarter worth $100,113,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock worth $184,810,000 after buying an additional 1,091,561 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BSX has been the topic of several analyst reports. BTIG Research lifted their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus lifted their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Monday, November 18th. TD Cowen boosted their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Evercore ISI boosted their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average price target of $93.39.

Insider Buying and Selling at Boston Scientific

In other news, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This represents a 11.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 15.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 328,157 shares of company stock worth $27,894,270. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $89.25 on Tuesday. The stock has a market cap of $131.53 billion, a price-to-earnings ratio of 73.76, a PEG ratio of 2.65 and a beta of 0.79. The firm’s 50-day moving average is $86.11 and its 200 day moving average is $80.32. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

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