Fairbanks Capital Management Inc. Buys 658 Shares of Boston Scientific Co. (NYSE:BSX)

Fairbanks Capital Management Inc. raised its stake in Boston Scientific Co. (NYSE:BSX) by 2.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 27,825 shares of the medical equipment provider’s stock after acquiring an additional 658 shares during the period. Boston Scientific comprises about 1.4% of Fairbanks Capital Management Inc.’s investment portfolio, making the stock its 26th largest position. Fairbanks Capital Management Inc.’s holdings in Boston Scientific were worth $2,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. First Foundation Advisors lifted its stake in shares of Boston Scientific by 51.2% in the 2nd quarter. First Foundation Advisors now owns 549 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 186 shares during the period. Hudson Edge Investment Partners Inc. acquired a new position in shares of Boston Scientific in the 2nd quarter valued at about $31,000. Ballentine Partners LLC lifted its stake in shares of Boston Scientific by 17.7% in the 2nd quarter. Ballentine Partners LLC now owns 31,840 shares of the medical equipment provider’s stock valued at $2,452,000 after purchasing an additional 4,779 shares during the period. Koss Olinger Consulting LLC acquired a new position in shares of Boston Scientific in the 2nd quarter valued at about $381,000. Finally, Pier 88 Investment Partners LLC lifted its stake in shares of Boston Scientific by 42.9% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 41,000 shares of the medical equipment provider’s stock valued at $3,157,000 after purchasing an additional 12,300 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $81.60 on Monday. The stock has a fifty day simple moving average of $77.40 and a two-hundred day simple moving average of $73.58. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $82.47. The firm has a market cap of $120.17 billion, a price-to-earnings ratio of 68.57, a price-to-earnings-growth ratio of 2.71 and a beta of 0.79. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. 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 on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 20,949 shares of company stock worth $1,627,877 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

BSX has been the topic of a number of recent analyst reports. Argus boosted their price objective on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Needham & Company LLC upped their price target on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays upped their price target on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Robert W. Baird upped their price target on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research note 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.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $85.38.

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.