Princeton Global Asset Management LLC Invests $68,000 in Boston Scientific Co. (NYSE:BSX)

Princeton Global Asset Management LLC bought a new position in Boston Scientific Co. (NYSE:BSX) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 807 shares of the medical equipment provider’s stock, valued at approximately $68,000.

A number of other hedge funds also recently added to or reduced their stakes in BSX. CRA Financial Services LLC lifted its position in Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after purchasing an additional 117 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after purchasing an additional 119 shares in the last quarter. CVA Family Office LLC increased its holdings in shares of 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. Jacobsen Capital Management raised its stake in shares of Boston Scientific by 4.9% during the third quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock valued at $236,000 after purchasing an additional 133 shares in the last quarter. Finally, S.A. Mason LLC grew its position in Boston Scientific by 6.1% in the 3rd quarter. S.A. Mason LLC now owns 2,335 shares of the medical equipment provider’s stock valued at $196,000 after buying an additional 135 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Trading Down 0.5 %

NYSE BSX opened at $83.62 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 1-year low of $50.84 and a 1-year high of $88.79. The firm’s fifty day simple moving average is $84.00 and its 200-day simple moving average is $78.43. The company has a market capitalization of $123.14 billion, a PE ratio of 69.11, a price-to-earnings-growth ratio of 2.47 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.41% and a net margin of 11.26%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on BSX shares. Truist Financial boosted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. Barclays upped their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Morgan Stanley lifted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus increased their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares in the company, valued at approximately $2,913,967.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 309,270 shares of company stock worth $26,196,718. 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.