Brooklyn Investment Group Acquires 821 Shares of Boston Scientific Co. (NYSE:BSX)

Brooklyn Investment Group raised its stake in Boston Scientific Co. (NYSE:BSX) by 8.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,877 shares of the medical equipment provider’s stock after acquiring an additional 821 shares during the quarter. Brooklyn Investment Group’s holdings in Boston Scientific were worth $911,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares during the last quarter. BDF Gestion bought a new stake in Boston Scientific during the 2nd quarter worth $3,570,000. Cetera Advisor Networks LLC grew its position in Boston Scientific by 11.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after acquiring an additional 21,252 shares during the last quarter. Brookstone Capital Management increased its holdings in Boston Scientific by 389.1% in the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after purchasing an additional 55,645 shares in the last quarter. Finally, HWG Holdings LP bought a new position in Boston Scientific in the second quarter valued at about $482,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on BSX shares. Wells Fargo & Company boosted their price target on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Barclays boosted their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Sanford C. Bernstein raised their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Truist Financial boosted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Bank of America increased their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Trading Down 0.8 %

BSX opened at $89.25 on Tuesday. The company has a fifty day moving average price of $86.11 and a two-hundred day moving average price of $80.32. Boston Scientific Co. has a 1-year low of $53.93 and a 1-year high of $91.93. The company has a market cap of $131.53 billion, a P/E ratio of 73.76, a price-to-earnings-growth ratio of 2.65 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

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

Insider Activity

In other news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’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 sale, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. This represents a 15.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 328,157 shares of company stock worth $27,894,270 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

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.