GLOBALT Investments LLC GA Acquires New Shares in Boston Scientific Co. (NYSE:BSX)

GLOBALT Investments LLC GA bought a new stake in Boston Scientific Co. (NYSE:BSX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,570 shares of the medical equipment provider’s stock, valued at approximately $718,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BSX. Triad Wealth Partners LLC bought a new stake in Boston Scientific during the 2nd quarter worth approximately $26,000. Values First Advisors Inc. bought a new stake in shares of Boston Scientific during the third quarter worth $28,000. Andra AP fonden acquired a new stake in shares of Boston Scientific during the second quarter worth $29,000. Lynx Investment Advisory bought a new stake in Boston Scientific in the 2nd quarter valued at $30,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Boston Scientific in the 3rd quarter worth $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Up 4.0 %

Shares of NYSE:BSX opened at $90.45 on Tuesday. The business’s 50 day moving average is $85.42 and its 200 day moving average is $79.72. Boston Scientific Co. has a 12-month low of $53.93 and a 12-month high of $91.08. The stock has a market cap of $133.31 billion, a price-to-earnings ratio of 74.75, a PEG ratio of 2.56 and a beta of 0.79. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS. On average, sell-side analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Canaccord Genuity Group upped their price objective on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Barclays raised their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Stifel Nicolaus increased their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Robert W. Baird raised their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 9.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. This trade represents a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders 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.