Axxcess Wealth Management LLC Buys 377 Shares of Boston Scientific Co. (NYSE:BSX)

Axxcess Wealth Management LLC lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,452 shares of the medical equipment provider’s stock after purchasing an additional 377 shares during the period. Axxcess Wealth Management LLC’s holdings in Boston Scientific were worth $805,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Sierra Summit Advisors LLC acquired a new stake in Boston Scientific in the fourth quarter valued at $8,038,000. TD Asset Management Inc lifted its stake in Boston Scientific by 10.7% in the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock valued at $93,417,000 after purchasing an additional 155,565 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings 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 purchasing an additional 73,219 shares during the period. BDF Gestion bought a new stake in Boston Scientific in the second quarter valued at approximately $3,570,000. Finally, Precision Wealth Strategies LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $956,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred 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 sale, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 20,949 shares of company stock valued at $1,627,877 over the last quarter. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on BSX shares. Needham & Company LLC lifted 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. TD Cowen increased their target price on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley boosted their price target on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. BTIG Research upped their price target on shares of Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Barclays lifted their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $83.71 on Friday. The firm has a 50 day simple moving average of $78.59 and a 200 day simple moving average of $74.51. The company has a market cap of $122.81 billion, a price-to-earnings ratio of 70.34, a PEG ratio of 2.75 and a beta of 0.79. Boston Scientific Co. has a one year low of $48.35 and a one year high of $84.89. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

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

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.