Gabelli Funds LLC Boosts Stake in Boston Scientific Co. (NYSE:BSX)

Gabelli Funds LLC increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 93.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 183,526 shares of the medical equipment provider’s stock after buying an additional 88,826 shares during the quarter. Gabelli Funds LLC’s holdings in Boston Scientific were worth $14,133,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC grew its position in shares of Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after acquiring an additional 131 shares during the last quarter. International Assets Investment Management LLC grew its position in Boston Scientific by 0.6% during the 2nd quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock worth $1,740,000 after purchasing an additional 139 shares during the last quarter. ST Germain D J Co. Inc. increased its stake in Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after purchasing an additional 143 shares during the period. Pinnacle Associates Ltd. raised its holdings in shares of Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after buying an additional 148 shares during the last quarter. Finally, Transcend Capital Advisors LLC boosted its stake in shares of Boston Scientific by 2.2% during the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 148 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s 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 sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 20,949 shares of company stock valued at $1,627,877 over the last three months. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Truist Financial upped their price target on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Argus lifted their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Evercore ISI upped their price objective on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Boston Scientific in a report on Thursday, July 25th. Three equities research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.65.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $84.00 on Tuesday. 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 stock has a market cap of $123.24 billion, a price-to-earnings ratio of 70.59, a PEG ratio of 2.75 and a beta of 0.79. The company’s 50-day moving average price is $78.84 and its 200 day moving average price is $74.84. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $84.89.

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. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period last year, the company posted $0.53 EPS. The company’s revenue was up 14.5% on a year-over-year basis. As a group, research analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

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.