Icon Wealth Advisors LLC Takes $100,000 Position in Boston Scientific Co. (NYSE:BSX)

Icon Wealth Advisors LLC acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,193 shares of the medical equipment provider’s stock, valued at approximately $100,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP grew its position in shares of Boston Scientific by 115.9% during the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after buying an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd grew its holdings in Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after purchasing an additional 2,615,903 shares during the period. Ameriprise Financial Inc. increased its stake in Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after purchasing an additional 1,824,405 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock worth $184,810,000 after purchasing an additional 1,091,561 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in shares of Boston Scientific by 68.6% during the third quarter. Handelsbanken Fonder AB now owns 2,371,407 shares of the medical equipment provider’s stock worth $198,724,000 after purchasing an additional 965,080 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This represents a 15.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 328,157 shares of company stock worth $27,894,270. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $90.66 on Monday. 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 Co. has a twelve month low of $53.93 and a twelve month high of $91.93. The business’s 50 day moving average price is $86.70 and its two-hundred day moving average price is $80.80. The company has a market cap of $133.62 billion, a PE ratio of 74.93, a price-to-earnings-growth ratio of 2.67 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its quarterly 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 business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 EPS. On average, analysts predict that Boston Scientific Co. will post 2.46 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on BSX shares. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Raymond James raised their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Citigroup boosted their price objective on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. TD Cowen raised their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Sanford C. Bernstein upped their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $93.39.

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.