Cetera Advisor Networks LLC Grows Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Cetera Advisor Networks LLC increased its stake in Boston Scientific Co. (NYSE:BSX) by 11.8% during the 1st quarter, HoldingsChannel reports. The firm owned 201,426 shares of the medical equipment provider’s stock after buying an additional 21,252 shares during the period. Cetera Advisor Networks LLC’s holdings in Boston Scientific were worth $13,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BSX. Cetera Advisors LLC grew its holdings in shares of Boston Scientific by 126.7% in the first quarter. Cetera Advisors LLC now owns 36,577 shares of the medical equipment provider’s stock worth $2,505,000 after acquiring an additional 20,439 shares during the period. Cetera Investment Advisers grew its stake in shares of Boston Scientific by 316.7% during the 1st quarter. Cetera Investment Advisers now owns 287,585 shares of the medical equipment provider’s stock valued at $19,697,000 after purchasing an additional 218,573 shares during the period. Atria Investments Inc increased its position in shares of Boston Scientific by 12.4% during the 1st quarter. Atria Investments Inc now owns 44,754 shares of the medical equipment provider’s stock valued at $3,065,000 after purchasing an additional 4,944 shares during the last quarter. Swedbank AB bought a new position in shares of Boston Scientific in the 1st quarter worth approximately $100,113,000. Finally, Wahed Invest LLC boosted its holdings in shares of Boston Scientific by 16.8% in the first quarter. Wahed Invest LLC now owns 28,733 shares of the medical equipment provider’s stock worth $1,968,000 after buying an additional 4,125 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on BSX shares. Argus increased their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Wells Fargo & Company raised their target price on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft boosted their price target on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Boston Scientific in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the stock 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.76.

Insider Buying and Selling at Boston Scientific

In other news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $74.14, for a total transaction of $958,704.34. Following the sale, the executive vice president now directly owns 31,422 shares in the company, valued at approximately $2,329,627.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $74.14, for a total transaction of $958,704.34. Following the transaction, the executive vice president now owns 31,422 shares of the company’s stock, valued at approximately $2,329,627.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles J. Dockendorff sold 3,946 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The disclosure for this sale can be found here. Insiders sold 51,837 shares of company stock worth $3,884,563 over the last 90 days. 0.50% of the stock is owned by insiders.

Boston Scientific Price Performance

Shares of NYSE:BSX traded down $0.66 during mid-day trading on Friday, reaching $74.50. The stock had a trading volume of 5,500,518 shares, compared to its average volume of 6,960,298. The company has a market cap of $109.30 billion, a P/E ratio of 62.61, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The business’s 50 day moving average price is $76.42 and its 200 day moving average price is $70.91. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $79.43.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the company earned $0.53 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. Research analysts expect that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

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.