Private Advisor Group LLC Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

Private Advisor Group LLC boosted its holdings in Boston Scientific Co. (NYSE:BSX) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,003 shares of the medical equipment provider’s stock after purchasing an additional 944 shares during the quarter. Private Advisor Group LLC’s holdings in Boston Scientific were worth $3,017,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BSX. Stanley Laman Group Ltd. purchased a new position in shares of Boston Scientific during the third quarter valued at about $210,000. Pictet North America Advisors SA grew its holdings in Boston Scientific by 1.4% during the 3rd quarter. Pictet North America Advisors SA now owns 76,290 shares of the medical equipment provider’s stock valued at $6,393,000 after buying an additional 1,032 shares in the last quarter. RBA Wealth Management LLC increased its stake in Boston Scientific by 1.8% in the 3rd quarter. RBA Wealth Management LLC now owns 68,456 shares of the medical equipment provider’s stock worth $5,737,000 after acquiring an additional 1,210 shares during the last quarter. Waldron Private Wealth LLC increased its stake in Boston Scientific by 3.1% in the 3rd quarter. Waldron Private Wealth LLC now owns 5,098 shares of the medical equipment provider’s stock worth $427,000 after acquiring an additional 152 shares during the last quarter. Finally, Eastern Bank raised its holdings in shares of Boston Scientific by 4.0% during the 3rd quarter. Eastern Bank now owns 308,208 shares of the medical equipment provider’s stock worth $25,828,000 after acquiring an additional 11,848 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Performance

BSX stock opened at $84.76 on Tuesday. Boston Scientific Co. has a 1-year low of $49.56 and a 1-year high of $88.79. The business has a 50-day moving average price of $83.59 and a 200 day moving average price of $77.98. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The company has a market capitalization of $124.35 billion, a P/E ratio of 71.23, a PEG ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BSX shares. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus boosted their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Thursday, October 24th. Finally, Truist Financial raised their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

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.