NewEdge Advisors LLC Acquires 20,644 Shares of Boston Scientific Co. (NYSE:BSX)

NewEdge Advisors LLC grew its holdings in Boston Scientific Co. (NYSE:BSX) by 34.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,307 shares of the medical equipment provider’s stock after buying an additional 20,644 shares during the period. NewEdge Advisors LLC’s holdings in Boston Scientific were worth $6,261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Eagle Bay Advisors LLC grew its stake in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. First Foundation Advisors bought a new position in shares of Boston Scientific during the first quarter worth approximately $25,000. Triad Wealth Partners LLC bought a new position in shares of Boston Scientific during the second quarter worth approximately $26,000. Andra AP fonden acquired a new stake in Boston Scientific during the 2nd quarter worth approximately $29,000. Finally, RiverPark Advisors LLC bought a new stake in Boston Scientific in the 1st quarter valued at $30,000. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BSX shares. Raymond James lifted their target price on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. Morgan Stanley boosted 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. TD Cowen boosted their price target 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, Evercore ISI raised their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.10.

Boston Scientific Stock Performance

NYSE BSX opened at $84.14 on Wednesday. The firm’s fifty day moving average price is $79.55 and its two-hundred day moving average price is $75.56. The stock has a market cap of $123.44 billion, a PE ratio of 70.71, a PEG ratio of 2.78 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $84.89.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations 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. On average, equities analysts expect that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

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.