Boston Scientific Co. (NYSE:BSX) Shares Purchased by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC raised its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 41.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,699 shares of the medical equipment provider’s stock after acquiring an additional 2,272 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Boston Scientific were worth $645,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CIBC Asset Management Inc lifted its position in Boston Scientific by 7.4% during the third quarter. CIBC Asset Management Inc now owns 232,304 shares of the medical equipment provider’s stock valued at $19,467,000 after buying an additional 16,037 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in Boston Scientific by 47.5% during the third quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 9,725 shares of the medical equipment provider’s stock valued at $815,000 after buying an additional 3,130 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in Boston Scientific by 3.2% during the third quarter. OneDigital Investment Advisors LLC now owns 10,177 shares of the medical equipment provider’s stock valued at $853,000 after buying an additional 311 shares in the last quarter. Lifeworks Advisors LLC raised its stake in shares of Boston Scientific by 48.3% during the third quarter. Lifeworks Advisors LLC now owns 4,653 shares of the medical equipment provider’s stock valued at $390,000 after purchasing an additional 1,515 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Boston Scientific by 2.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 41,885 shares of the medical equipment provider’s stock valued at $3,510,000 after purchasing an additional 998 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BSX shares. Raymond James lifted their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Evercore ISI lifted their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada lifted their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Price Performance

NYSE BSX opened at $86.98 on Friday. The stock’s 50-day moving average price is $85.26 and its two-hundred day moving average price is $79.49. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The company has a market cap of $128.19 billion, a PE ratio of 71.88, a PEG ratio of 2.61 and a beta of 0.79. Boston Scientific Co. has a 1 year low of $53.56 and a 1 year high of $89.30.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. On average, analysts predict that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the 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 transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock worth $26,196,718 in the last 90 days. Company insiders own 0.50% of the company’s stock.

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.