Boston Scientific Co. (NYSE:BSX) Shares Purchased by Congress Asset Management Co.

Congress Asset Management Co. boosted its stake in Boston Scientific Co. (NYSE:BSX) by 3.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,718,654 shares of the medical equipment provider’s stock after purchasing an additional 53,346 shares during the period. Boston Scientific makes up 1.0% of Congress Asset Management Co.’s portfolio, making the stock its 24th largest position. Congress Asset Management Co.’s holdings in Boston Scientific were worth $144,023,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norden Group LLC purchased a new stake in shares of Boston Scientific in the first quarter valued at about $576,000. First Trust Direct Indexing L.P. raised its stake in shares of Boston Scientific by 9.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 38,506 shares of the medical equipment provider’s stock worth $2,637,000 after buying an additional 3,482 shares in the last quarter. Accel Wealth Management purchased a new stake in shares of Boston Scientific in the first quarter valued at approximately $218,000. Maryland State Retirement & Pension System raised its position in Boston Scientific by 0.9% in the first quarter. Maryland State Retirement & Pension System now owns 114,841 shares of the medical equipment provider’s stock worth $7,762,000 after acquiring an additional 973 shares in the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in Boston Scientific in the first quarter valued at $250,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s 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 sale, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific 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 sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s 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 transaction, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock valued at $26,196,718 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE:BSX traded up $0.51 during trading on Thursday, reaching $84.50. The company had a trading volume of 1,189,480 shares, compared to its average volume of 6,070,457. 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 firm has a market capitalization of $123.97 billion, a PE ratio of 70.61, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $50.26 and a twelve month high of $88.79. The firm’s fifty day moving average is $83.82 and its 200 day moving average is $78.13.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. On average, equities analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Thursday. Citigroup boosted their target price on Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Bank of America increased 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 Tuesday, October 22nd. Wells Fargo & Company upped their price target on shares of Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Mizuho raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boston Scientific 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.