Savvy Advisors Inc. Invests $270,000 in Boston Scientific Co. (NYSE:BSX)

Savvy Advisors Inc. bought a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,228 shares of the medical equipment provider’s stock, valued at approximately $270,000.

A number of other institutional investors have also recently added to or reduced their stakes in BSX. Rakuten Securities Inc. lifted its position in shares of Boston Scientific by 648.6% during the third quarter. Rakuten Securities Inc. now owns 831 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 720 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after buying an additional 30,636 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Boston Scientific in the 3rd quarter valued at about $302,000. Harbour Investments Inc. grew its stake in shares of Boston Scientific by 11.5% during the third quarter. Harbour Investments Inc. now owns 2,817 shares of the medical equipment provider’s stock valued at $236,000 after acquiring an additional 291 shares in the last quarter. Finally, Vestia Personal Wealth Advisors purchased a new stake in Boston Scientific during the 3rd quarter worth approximately $216,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $88.77 on Thursday. The stock has a market cap of $130.83 billion, a P/E ratio of 73.36, a P/E/G ratio of 2.61 and a beta of 0.79. The firm’s 50-day simple moving average is $84.89 and its 200 day simple moving average is $79.26. Boston Scientific Co. has a fifty-two week low of $53.56 and a fifty-two week high of $89.30. 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 released its quarterly 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. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. Equities analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Analysts Set New Price Targets

BSX has been the subject of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Thursday, October 31st. Evercore ISI upped their target price 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. Citigroup lifted their price target on Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Wells Fargo & Company increased their target price on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Robert W. Baird boosted their price target on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Four 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by corporate insiders.

About Boston Scientific

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.