Summit Trail Advisors LLC Increases Stock Position in Boston Scientific Co. (NYSE:BSX)

Summit Trail Advisors LLC increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 15.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,767 shares of the medical equipment provider’s stock after buying an additional 1,403 shares during the period. Summit Trail Advisors LLC’s holdings in Boston Scientific were worth $829,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC boosted its position in Boston Scientific by 7.4% during the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after acquiring an additional 131 shares during the period. International Assets Investment Management LLC raised its stake in shares of Boston Scientific by 0.6% during the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after purchasing an additional 139 shares in the last quarter. ST Germain D J Co. Inc. grew its position in Boston Scientific by 8.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after buying an additional 143 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in Boston Scientific by 2.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after buying an additional 148 shares during the period. Finally, Transcend Capital Advisors LLC increased its stake in Boston Scientific by 2.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after buying an additional 148 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.3 %

NYSE:BSX opened at $83.92 on Monday. The stock’s 50-day moving average is $78.72 and its two-hundred day moving average is $74.73. 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 stock has a market cap of $123.12 billion, a PE ratio of 70.52, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $84.89.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the 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 transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 20,949 shares of company stock valued at $1,627,877. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. TD Cowen raised their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Raymond James lifted their price target on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. BTIG Research lifted their target price on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Morgan Stanley boosted their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.65.

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.