Townsquare Capital LLC Increases Holdings in Boston Scientific Co. (NYSE:BSX)

Townsquare Capital LLC boosted its position in Boston Scientific Co. (NYSE:BSX) by 191.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,896 shares of the medical equipment provider’s stock after buying an additional 17,683 shares during the quarter. Townsquare Capital LLC’s holdings in Boston Scientific were worth $2,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Triad Wealth Partners LLC bought a new position in shares of Boston Scientific during the 2nd quarter valued at $26,000. Values First Advisors Inc. purchased a new stake in Boston Scientific during the third quarter valued at about $28,000. Andra AP fonden bought a new position in shares of Boston Scientific during the second quarter valued at about $29,000. Lynx Investment Advisory purchased a new position in shares of Boston Scientific in the second quarter worth about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Boston Scientific during the 3rd quarter valued at about $30,000. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 16.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock valued at $27,894,270 in the last 90 days. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Stifel Nicolaus boosted their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada upped their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Evercore ISI upped 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

Shares of BSX opened at $90.66 on Friday. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.93. The company has a market capitalization of $133.62 billion, a P/E ratio of 74.93, a price-to-earnings-growth ratio of 2.67 and a beta of 0.79. The firm has a 50 day moving average of $86.70 and a 200 day moving average of $80.76. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

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

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.