Zimmermann Investment Management & Planning LLC Takes $202,000 Position in Boston Scientific Co. (NYSE:BSX)

Zimmermann Investment Management & Planning LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,621 shares of the medical equipment provider’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BSX. Eagle Bay Advisors LLC grew its position in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares in the last quarter. First Foundation Advisors acquired a new stake in Boston Scientific during the first quarter worth about $25,000. Triad Wealth Partners LLC acquired a new stake in Boston Scientific during the second quarter worth about $26,000. RiverPark Advisors LLC acquired a new stake in Boston Scientific during the first quarter worth about $30,000. Finally, Lynx Investment Advisory acquired a new stake in Boston Scientific during the second quarter worth about $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup lifted their price objective on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lifted 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 lifted their price objective on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI lifted their price objective on Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.24.

Boston Scientific Trading Down 0.4 %

BSX stock traded down $0.31 during trading on Wednesday, hitting $79.52. The company had a trading volume of 4,155,476 shares, compared to its average volume of 6,098,590. The firm has a 50-day moving average price of $76.73 and a 200-day moving average price of $72.71. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $80.02. The stock has a market cap of $116.66 billion, a price-to-earnings ratio of 66.82, a PEG ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, analysts predict 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 business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 20,949 shares of company stock valued at $1,583,395 in the last quarter. Company insiders own 0.50% of the company’s stock.

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.