Thoroughbred Financial Services LLC Makes New $203,000 Investment in Boston Scientific Co. (NYSE:BSX)

Thoroughbred Financial Services LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,649 shares of the medical equipment provider’s stock, valued at approximately $203,000.

A number of other hedge funds have also modified their holdings of the business. Precision Wealth Strategies LLC acquired a new position in Boston Scientific in the 4th quarter valued at $956,000. Aveo Capital Partners LLC lifted its position in Boston Scientific by 1.3% during the fourth quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock worth $742,000 after buying an additional 171 shares during the period. Jump Financial LLC acquired a new stake in Boston Scientific in the 4th quarter worth about $361,000. Independent Advisor Alliance purchased a new stake in Boston Scientific in the 4th quarter valued at about $228,000. Finally, TrinityPoint Wealth LLC increased its stake in shares of Boston Scientific by 5.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 12,546 shares of the medical equipment provider’s stock valued at $725,000 after acquiring an additional 697 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Up 0.1 %

NYSE:BSX opened at $82.57 on Thursday. Boston Scientific Co. has a one year low of $48.35 and a one year high of $84.11. The business’s 50-day simple moving average is $78.46 and its 200 day simple moving average is $74.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The stock has a market cap of $121.14 billion, a price-to-earnings ratio of 69.39, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BSX. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of Boston Scientific in a research report on Thursday, July 25th. Morgan Stanley upped their price objective on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Needham & Company LLC lifted their target price on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, July 25th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Finally, Truist Financial lifted their price objective on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In 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.

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.