International Assets Investment Management LLC Raises Stake in Boston Scientific Co. (NYSE:BSX)

International Assets Investment Management LLC increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 1,971.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 468,045 shares of the medical equipment provider’s stock after purchasing an additional 445,449 shares during the period. International Assets Investment Management LLC’s holdings in Boston Scientific were worth $392,220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the second quarter worth about $26,000. First Foundation Advisors purchased a new stake in Boston Scientific during the 1st quarter valued at approximately $25,000. Eagle Bay Advisors LLC raised its position in shares of Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Andra AP fonden purchased a new position in shares of Boston Scientific in the second quarter worth $29,000. Finally, Lynx Investment Advisory bought a new position in shares of Boston Scientific during the second quarter worth $30,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Price Performance

Shares of BSX stock opened at $85.11 on Friday. The stock has a 50 day moving average price of $83.19 and a 200 day moving average price of $77.57. The firm has a market capitalization of $124.86 billion, a P/E ratio of 71.52, a P/E/G ratio of 2.87 and a beta of 0.80. 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 Co. has a 52-week low of $49.15 and a 52-week high of $88.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 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 $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on BSX shares. Raymond James boosted their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus boosted their target price on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Morgan Stanley raised their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial upped their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on 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 directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 316,253 shares of company stock valued at $26,714,298. Corporate insiders own 0.50% of the company’s stock.

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.