Sanctuary Advisors LLC Buys Shares of 73,104 Boston Scientific Co. (NYSE:BSX)

Sanctuary Advisors LLC purchased a new position in Boston Scientific Co. (NYSE:BSX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 73,104 shares of the medical equipment provider’s stock, valued at approximately $5,349,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC boosted its position in Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares in the last quarter. First Foundation Advisors purchased a new stake in shares of Boston Scientific during the 1st quarter worth $25,000. Triad Wealth Partners LLC bought a new stake in Boston Scientific during the second quarter valued at about $26,000. Andra AP fonden bought a new stake in Boston Scientific during the second quarter valued at about $29,000. Finally, RiverPark Advisors LLC purchased a new position in Boston Scientific in the first quarter valued at about $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 company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 20,949 shares of company stock worth $1,673,685 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.9 %

Shares of NYSE:BSX opened at $84.55 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $84.89. The business has a 50 day moving average of $80.07 and a two-hundred day moving average of $75.80. The company has a market capitalization of $124.04 billion, a PE ratio of 71.05, a PEG ratio of 2.78 and a beta of 0.80.

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

Analyst Upgrades and Downgrades

Several analysts have commented on BSX shares. Barclays increased their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Morgan Stanley upped their price target on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Canaccord Genuity Group raised their price objective on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 target price on shares of Boston Scientific in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.10.

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.