AE Wealth Management LLC Increases Stake in Boston Scientific Co. (NYSE:BSX)

AE Wealth Management LLC grew its holdings in Boston Scientific Co. (NYSE:BSX) by 18.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,261 shares of the medical equipment provider’s stock after buying an additional 2,582 shares during the period. AE Wealth Management LLC’s holdings in Boston Scientific were worth $1,252,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC grew its holdings in Boston Scientific by 542.1% in the 1st 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 in the last quarter. First Foundation Advisors purchased a new stake in shares of Boston Scientific in the first quarter valued at about $25,000. Triad Wealth Partners LLC acquired a new stake in Boston Scientific during the second quarter worth about $26,000. Andra AP fonden purchased a new position in Boston Scientific during the second quarter worth about $29,000. Finally, RiverPark Advisors LLC acquired a new position in Boston Scientific in the 1st quarter valued at about $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Down 0.6 %

Shares of NYSE:BSX opened at $83.51 on Wednesday. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $84.89. The company’s 50 day moving average is $78.94 and its two-hundred day moving average is $74.96. The company has a market cap of $122.52 billion, a PE ratio of 70.18, a P/E/G 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 announced its quarterly 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. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the business earned $0.53 EPS. Boston Scientific’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were 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 SEC, which is available at this link. Over the last quarter, insiders have sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on BSX. Truist Financial lifted their price target on shares of Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Robert W. Baird increased their price target on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen boosted their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. BTIG Research increased their target price on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price objective on shares of Boston Scientific in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price of $86.65.

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.