Hennion & Walsh Asset Management Inc. Increases Stock Position in Boston Scientific Co. (NYSE:BSX)

Hennion & Walsh Asset Management Inc. raised its holdings in Boston Scientific Co. (NYSE:BSX) by 8.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,953 shares of the medical equipment provider’s stock after purchasing an additional 6,737 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Boston Scientific were worth $6,465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BSX. CVA Family Office LLC lifted its stake 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 buying an additional 131 shares during the period. ST Germain D J Co. Inc. lifted its stake in shares of Boston Scientific by 8.0% during the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after buying an additional 143 shares during the period. Pinnacle Associates Ltd. lifted its stake in shares of Boston Scientific by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after buying an additional 148 shares during the period. Transcend Capital Advisors LLC lifted its stake in shares of Boston Scientific by 2.2% during the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after buying an additional 148 shares during the period. Finally, KCM Investment Advisors LLC raised its stake in Boston Scientific by 1.7% during the first quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock worth $632,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BSX shares. TD Cowen increased their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Raymond James raised their price target on shares of Boston Scientific from $85.00 to $91.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Barclays raised their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Robert W. Baird raised their price target on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

Boston Scientific Stock Performance

Boston Scientific stock traded up $0.45 on Monday, hitting $78.70. The company’s stock had a trading volume of 2,044,595 shares, compared to its average volume of 6,198,980. The firm has a market cap of $115.46 billion, a P/E ratio of 65.76, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $76.41 and a 200-day moving average price of $72.01. Boston Scientific Co. has a one year low of $48.35 and a one 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 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.33, for a total value of $526,029.39. Following the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares in the company, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Insiders have sold a total of 34,960 shares of company stock valued at $2,638,984 in the last 90 days. 0.50% of the stock is currently owned by insiders.

Boston Scientific 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.