Cambridge Investment Research Advisors Inc. increased its holdings in shares of Boston Scientific Co. (NYSE:BSX – Get Rating) by 326.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,329 shares of the medical equipment provider's stock after acquiring an additional 82,176 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Boston Scientific were worth $4,000,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in BSX. Blair William & Co. IL grew its holdings in Boston Scientific by 79.9% in the 4th quarter. Blair William & Co. IL now owns 25,986 shares of the medical equipment provider's stock valued at $1,104,000 after buying an additional 11,544 shares in the last quarter. Commerce Bank lifted its position in shares of Boston Scientific by 1.1% during the 4th quarter. Commerce Bank now owns 79,602 shares of the medical equipment provider's stock valued at $3,381,000 after acquiring an additional 901 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Boston Scientific by 75.3% during the 4th quarter. Point72 Asset Management L.P. now owns 1,902,978 shares of the medical equipment provider's stock valued at $80,839,000 after acquiring an additional 817,400 shares during the period. Bayesian Capital Management LP lifted its position in shares of Boston Scientific by 135.8% during the 4th quarter. Bayesian Capital Management LP now owns 97,589 shares of the medical equipment provider's stock valued at $4,146,000 after acquiring an additional 56,200 shares during the period. Finally, Taurus Asset Management LLC lifted its position in shares of Boston Scientific by 1.0% during the 4th quarter. Taurus Asset Management LLC now owns 567,172 shares of the medical equipment provider's stock valued at $24,093,000 after acquiring an additional 5,625 shares during the period. 90.33% of the stock is owned by institutional investors and hedge funds.
Get Boston Scientific alerts:Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on BSX shares. Truist Financial cut their target price on Boston Scientific from $51.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday, July 20th. Morgan Stanley dropped their price objective on Boston Scientific from $51.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday, July 15th. Wolfe Research began coverage on Boston Scientific in a research report on Tuesday, July 5th. They set an "outperform" rating and a $43.00 price objective for the company. Piper Sandler upped their price objective on Boston Scientific from $47.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, September 9th. Finally, TheStreet upgraded Boston Scientific from a "c+" rating to a "b-" rating in a research report on Wednesday, August 24th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $46.83.
Boston Scientific Trading Down 1.4 %
Shares of BSX stock opened at $38.36 on Tuesday. The stock has a market cap of $54.84 billion, a price-to-earnings ratio of 66.14, a PEG ratio of 2.11 and a beta of 0.85. The stock has a 50-day moving average of $40.82 and a 200-day moving average of $40.79. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.51. Boston Scientific Co. has a 1-year low of $34.98 and a 1-year high of $47.49.Boston Scientific (NYSE:BSX – Get Rating) last released its earnings results on Wednesday, July 27th. The medical equipment provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. Boston Scientific had a return on equity of 14.58% and a net margin of 7.16%. The business had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.22 billion. During the same quarter last year, the firm posted $0.40 earnings per share. The firm's revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Boston Scientific Co. will post 1.76 earnings per share for the current year.
Insider Buying and Selling
In related news, EVP Wendy Carruthers sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $42.21, for a total transaction of $316,575.00. Following the completion of the sale, the executive vice president now owns 109,913 shares of the company's stock, valued at $4,639,427.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $42.21, for a total value of $316,575.00. Following the transaction, the executive vice president now owns 109,913 shares in the company, valued at $4,639,427.73. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eric Francis Yves Thepaut sold 20,676 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $40.99, for a total value of $847,509.24. Following the completion of the transaction, the executive vice president now owns 72,486 shares in the company, valued at approximately $2,971,201.14. The disclosure for this sale can be found here. Insiders sold 59,264 shares of company stock valued at $2,433,248 over the last 90 days. Company insiders own 0.66% of the company's stock.
Boston Scientific Profile
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Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.
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