Sunbelt Securities Inc. Buys 560 Shares of Boston Scientific Co. (NYSE:BSX)

Sunbelt Securities Inc. lifted its position in Boston Scientific Co. (NYSE:BSX) by 85.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,213 shares of the medical equipment provider’s stock after acquiring an additional 560 shares during the period. Sunbelt Securities Inc.’s holdings in Boston Scientific were worth $93,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BSX. NewEdge Advisors LLC grew its position in shares of Boston Scientific by 34.0% in the 2nd quarter. NewEdge Advisors LLC now owns 81,307 shares of the medical equipment provider’s stock valued at $6,261,000 after acquiring an additional 20,644 shares during the period. Creative Planning boosted its position in shares of Boston Scientific by 13.7% in the second quarter. Creative Planning now owns 189,545 shares of the medical equipment provider’s stock valued at $14,597,000 after acquiring an additional 22,901 shares during the period. Ascent Group LLC raised its position in shares of Boston Scientific by 11.8% in the second quarter. Ascent Group LLC now owns 7,480 shares of the medical equipment provider’s stock valued at $576,000 after buying an additional 790 shares in the last quarter. Kathmere Capital Management LLC acquired a new stake in shares of Boston Scientific during the 2nd quarter worth $201,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Boston Scientific in the 2nd quarter valued at $2,273,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Down 0.8 %

NYSE BSX opened at $83.84 on Friday. The stock has a market capitalization of $123.00 billion, a P/E ratio of 70.45, a P/E/G ratio of 2.78 and a beta of 0.79. The business has a 50 day simple moving average of $79.88 and a 200 day simple moving average of $75.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific Co. has a one year low of $48.35 and a one year high of $84.89.

Boston Scientific (NYSE:BSX) last posted its quarterly 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. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 EPS. Research analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 20,949 shares of company stock worth $1,673,685. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BSX shares. Morgan Stanley lifted their price target 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 price objective on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Canaccord Genuity Group upped their target price on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. TD Cowen lifted 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, 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. Three equities research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.10.

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.