Integral Health Asset Management LLC Raises Position in Boston Scientific Co. (NYSE:BSX)

Integral Health Asset Management LLC lifted its position in Boston Scientific Co. (NYSE:BSX) by 8.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 650,000 shares of the medical equipment provider’s stock after purchasing an additional 50,000 shares during the quarter. Boston Scientific comprises about 4.8% of Integral Health Asset Management LLC’s investment portfolio, making the stock its 4th biggest position. Integral Health Asset Management LLC’s holdings in Boston Scientific were worth $50,056,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BSX. Triad Wealth Partners LLC bought a new stake in Boston Scientific during the second quarter worth approximately $26,000. First Foundation Advisors bought a new stake in Boston Scientific during the first quarter worth approximately $25,000. Eagle Bay Advisors LLC grew its stake in shares of Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Andra AP fonden bought a new position in shares of Boston Scientific during the second quarter valued at approximately $29,000. Finally, Lynx Investment Advisory bought a new position in shares of Boston Scientific during the second quarter valued at approximately $30,000. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BSX has been the topic of a number of analyst reports. Raymond James upped their target price on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. increased their price objective on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays increased their price objective on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial increased their price objective on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, TD Cowen increased their price objective on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.65.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $2,978,734.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 20,949 shares of company stock worth $1,627,877 in the last 90 days. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX stock opened at $83.92 on Monday. The firm has a market capitalization of $123.12 billion, a price-to-earnings ratio of 70.52, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The business has a fifty day moving average of $78.72 and a 200 day moving average of $74.73. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.89.

Boston Scientific (NYSE:BSX) last issued 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. The company had revenue of $4.12 billion during 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 quarter last year, the business posted $0.53 EPS. As a group, research analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current year.

About Boston Scientific

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.