Cornerstone Wealth Group LLC Acquires Shares of 2,689 Boston Scientific Co. (NYSE:BSX)

Cornerstone Wealth Group LLC bought a new position in shares of Boston Scientific Co. (NYSE:BSX) during the second quarter, according to its most recent filing with the SEC. The fund bought 2,689 shares of the medical equipment provider’s stock, valued at approximately $207,000.

A number of other large investors have also added to or reduced their stakes in the stock. CVA Family Office LLC grew its holdings in Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after purchasing an additional 131 shares during the period. ST Germain D J Co. Inc. grew its stake in shares of Boston Scientific by 8.0% during the 2nd quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after acquiring an additional 143 shares during the period. Pinnacle Associates Ltd. increased its holdings in Boston Scientific by 2.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after acquiring an additional 148 shares during the last quarter. Transcend Capital Advisors LLC raised its stake in Boston Scientific by 2.2% in the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 148 shares during the period. Finally, KCM Investment Advisors LLC boosted its position in Boston Scientific by 1.7% during the first quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock worth $632,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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 on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the transaction, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,960 shares of company stock worth $2,638,984. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on BSX shares. Truist Financial upped their price target on shares of Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Needham & Company LLC boosted their price objective on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Raymond James raised their target price on Boston Scientific from $85.00 to $91.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Robert W. Baird upped their price target on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, TD Cowen raised their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $85.24.

Boston Scientific Trading Down 0.5 %

NYSE:BSX traded down $0.41 during trading hours on Friday, reaching $79.17. The company’s stock had a trading volume of 4,006,157 shares, compared to its average volume of 6,148,074. The firm has a 50-day simple moving average of $76.59 and a 200-day simple moving average of $72.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $79.92. The firm has a market capitalization of $116.15 billion, a price-to-earnings ratio of 66.53, a PEG ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. Research analysts expect that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Boston Scientific Company 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.