Legacy Financial Advisors Inc. Buys 247 Shares of Boston Scientific Co. (NYSE:BSX)

Legacy Financial Advisors Inc. boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 6.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,107 shares of the medical equipment provider’s stock after acquiring an additional 247 shares during the period. Legacy Financial Advisors Inc.’s holdings in Boston Scientific were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC increased its position in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the period. First Foundation Advisors acquired a new stake in Boston Scientific during the first quarter worth about $25,000. Triad Wealth Partners LLC bought a new position in Boston Scientific in the 2nd quarter valued at about $26,000. Andra AP fonden acquired a new position in shares of Boston Scientific in the 2nd quarter valued at approximately $29,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Boston Scientific during the 1st quarter worth approximately $30,000. Institutional investors own 89.07% of the company’s stock.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Up 0.3 %

Shares of BSX opened at $83.92 on Friday. The stock’s 50-day moving average price is $78.72 and its two-hundred day moving average price is $74.68. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $84.89. The company has a market capitalization of $123.12 billion, a PE ratio of 70.52, a PEG ratio of 2.75 and a beta of 0.79. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. On average, analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current year.

Analyst Ratings Changes

BSX has been the topic of a number of recent analyst reports. Raymond James lifted their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Evercore ISI boosted their price target on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Morgan Stanley lifted their target price on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of Boston Scientific in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.65.

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.