Boston Scientific Co. (NYSE:BSX) Shares Bought by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,123 shares of the medical equipment provider’s stock after acquiring an additional 186 shares during the period. Hartford Funds Management Co LLC’s holdings in Boston Scientific were worth $513,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific during the second quarter valued at $26,000. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific during the third quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Boston Scientific during the third quarter valued at $30,000. Capital Performance Advisors LLP acquired a new stake in shares of Boston Scientific during the third quarter valued at $30,000. Finally, Andra AP fonden acquired a new stake in shares of Boston Scientific during the second quarter valued at $29,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BSX. Barclays increased their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their price target on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Morgan Stanley raised their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Monday, November 18th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

BSX stock opened at $90.00 on Friday. 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 Co. has a 52-week low of $53.93 and a 52-week high of $91.93. The stock’s 50 day moving average is $85.99 and its two-hundred day moving average is $80.16. The company has a market capitalization of $132.64 billion, a PE ratio of 74.38, a P/E/G ratio of 2.69 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data 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. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the previous year, the business earned $0.50 EPS. Boston Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. Analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, 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. Insiders have sold 314,147 shares of company stock worth $26,643,598 in the last three months. 0.50% of the stock is owned by insiders.

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.