Simplify Asset Management Inc. Buys 17,181 Shares of Boston Scientific Co. (NYSE:BSX)

Simplify Asset Management Inc. increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 27.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,639 shares of the medical equipment provider’s stock after acquiring an additional 17,181 shares during the period. Boston Scientific comprises approximately 0.4% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 21st largest holding. Simplify Asset Management Inc.’s holdings in Boston Scientific were worth $6,133,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sierra Summit Advisors LLC bought a new stake in shares of Boston Scientific during the 4th quarter worth approximately $8,038,000. TD Asset Management Inc lifted its stake in Boston Scientific by 10.7% in the fourth quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock valued at $93,417,000 after acquiring an additional 155,565 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Boston Scientific by 225.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock valued at $7,237,000 after acquiring an additional 73,219 shares during the period. BDF Gestion acquired a new position in shares of Boston Scientific during the 2nd quarter worth about $3,570,000. Finally, Precision Wealth Strategies LLC bought a new stake in shares of Boston Scientific in the 4th quarter valued at about $956,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BSX has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Citigroup boosted their target price on Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. The Goldman Sachs Group started coverage on Boston Scientific in a report on Thursday, May 30th. They set a “buy” rating and a $90.00 price target for the company. Morgan Stanley upped their price objective on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Needham & Company LLC raised their target price on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Boston Scientific Stock Up 1.4 %

BSX stock opened at $83.71 on Friday. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $84.89. The business has a 50-day simple moving average of $78.59 and a 200 day simple moving average of $74.51. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company has a market cap of $122.81 billion, a PE ratio of 70.34, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued 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 net margin of 12.00% and a return on equity of 16.59%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. Sell-side analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 20,949 shares of company stock worth $1,627,877 over the last three months. Insiders own 0.50% of the company’s stock.

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.