Miracle Mile Advisors LLC Purchases 203 Shares of Boston Scientific Co. (NYSE:BSX)

Miracle Mile Advisors LLC increased its holdings in Boston Scientific Co. (NYSE:BSX) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,252 shares of the medical equipment provider’s stock after acquiring an additional 203 shares during the period. Miracle Mile Advisors LLC’s holdings in Boston Scientific were worth $440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BSX. Vanguard Group Inc. grew its stake in Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after purchasing an additional 1,988,082 shares during the period. Capital World Investors grew its position in Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after buying an additional 6,588,256 shares during the period. Legal & General Group Plc increased its holdings in Boston Scientific by 2.7% during the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock worth $1,072,195,000 after buying an additional 360,793 shares during the last quarter. Putnam Investments LLC raised its position in Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after acquiring an additional 6,859,280 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 1.7 %

Shares of NYSE BSX opened at $85.83 on Wednesday. The business has a 50-day moving average of $80.25 and a 200-day moving average of $76.03. The firm has a market capitalization of $125.92 billion, a price-to-earnings ratio of 72.13, a PEG ratio of 2.78 and a beta of 0.80. 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 Co. has a 12 month low of $48.35 and a 12 month high of $86.09.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results 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. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 316,253 shares of company stock valued at $26,714,298 over the last 90 days. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Needham & Company LLC lifted their price target on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Citigroup boosted their target price on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Morgan Stanley increased their price target on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. TD Cowen boosted their price objective on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Canaccord Genuity Group increased their target price on shares of Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Three research 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 company. According to data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $87.60.

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.