Creative Planning Purchases 22,901 Shares of Boston Scientific Co. (NYSE:BSX)

Creative Planning raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 13.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,545 shares of the medical equipment provider’s stock after buying an additional 22,901 shares during the quarter. Creative Planning’s holdings in Boston Scientific were worth $14,597,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BSX. Sierra Summit Advisors LLC bought a new position in Boston Scientific during the fourth quarter valued at $8,038,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in Boston Scientific by 225.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after acquiring an additional 73,219 shares during the last quarter. BDF Gestion purchased a new stake in Boston Scientific during the second quarter valued at approximately $3,570,000. Tlwm bought a new position in shares of Boston Scientific during the 1st quarter valued at approximately $927,000. Finally, The Manufacturers Life Insurance Company lifted its position in Boston Scientific by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,104,085 shares of the medical equipment provider’s stock worth $63,827,000 after buying an additional 19,999 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX stock opened at $83.80 on Tuesday. The company has a market cap of $122.94 billion, a PE ratio of 70.42, a PEG ratio of 2.78 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. The business’s fifty day simple moving average is $79.44 and its 200-day simple moving average is $75.43. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $84.89.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results 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. 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 analysts’ expectations of $4.02 billion. During the same period last year, the business earned $0.53 earnings per share. Boston Scientific’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on BSX. Needham & Company LLC increased their price objective on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Barclays lifted their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. BTIG Research raised their price target 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. Truist Financial lifted their price objective on shares of Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Evercore ISI increased their price objective on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. Three investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.