Boston Scientific Co. (NYSE:BSX) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its position in shares of Boston Scientific Co. (NYSE:BSX) by 10.8% during the second quarter, HoldingsChannel reports. The firm owned 9,194 shares of the medical equipment provider’s stock after buying an additional 893 shares during the period. Concurrent Investment Advisors LLC’s holdings in Boston Scientific were worth $708,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sierra Summit Advisors LLC purchased a new position in Boston Scientific in the 4th quarter valued at about $8,038,000. TD Asset Management Inc grew its stake in Boston Scientific by 10.7% during the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock valued at $93,417,000 after purchasing an additional 155,565 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Boston Scientific by 225.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after purchasing an additional 73,219 shares during the last quarter. BDF Gestion acquired a new position in shares of Boston Scientific in the 2nd quarter valued at approximately $3,570,000. Finally, Precision Wealth Strategies LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth approximately $956,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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 Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the sale, the executive vice president now directly owns 42,908 shares in the company, valued at approximately $3,316,788.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Boston Scientific in a report on Thursday, May 30th. They issued a “buy” rating and a $90.00 price target on the stock. Robert W. Baird upped their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays upped their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Argus lifted their target price on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.24.

Boston Scientific Trading Up 1.4 %

Shares of BSX stock opened at $81.79 on Tuesday. The stock has a fifty day moving average of $77.05 and a two-hundred day moving average of $73.14. The firm has a market capitalization of $119.99 billion, a PE ratio of 68.73, a price-to-earnings-growth ratio of 2.71 and a beta of 0.78. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $82.10. 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 (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping 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 business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, research analysts expect that Boston Scientific Co. will post 2.4 EPS for the current year.

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.