Nwam LLC Invests $294,000 in Boston Scientific Co. (NYSE:BSX)

Nwam LLC acquired a new stake in Boston Scientific Co. (NYSE:BSX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,503 shares of the medical equipment provider’s stock, valued at approximately $294,000.

Several other hedge funds also recently added to or reduced their stakes in BSX. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $26,000. Values First Advisors Inc. purchased a new stake in Boston Scientific in the 3rd quarter valued at about $28,000. Andra AP fonden acquired a new position in Boston Scientific in the second quarter valued at about $29,000. Lynx Investment Advisory purchased a new position in Boston Scientific during the second quarter worth about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Boston Scientific during the third quarter valued at about $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This trade represents a 15.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock valued at $27,894,270 over the last quarter. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Down 0.8 %

Shares of NYSE:BSX opened at $89.25 on Tuesday. The firm has a 50 day simple moving average of $86.11 and a 200-day simple moving average of $80.32. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.93. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $131.53 billion, a PE ratio of 73.76, a P/E/G ratio of 2.65 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data 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. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, equities analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BSX shares. BTIG Research increased their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Citigroup lifted their price objective on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Canaccord Genuity Group increased their target price on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Wells Fargo & Company boosted their price target on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Truist Financial raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Four investment 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 MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $93.39.

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.