Transcend Capital Advisors LLC Raises Position in Boston Scientific Co. (NYSE:BSX)

Transcend Capital Advisors LLC lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,773 shares of the medical equipment provider’s stock after purchasing an additional 148 shares during the period. Transcend Capital Advisors LLC’s holdings in Boston Scientific were worth $522,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Bank of New Hampshire purchased a new position in Boston Scientific in the 2nd quarter valued at approximately $113,000. Cypress Asset Management Inc. TX purchased a new position in Boston Scientific in the 1st quarter valued at approximately $205,000. Railway Pension Investments Ltd grew its stake in Boston Scientific by 73.0% in the 1st quarter. Railway Pension Investments Ltd now owns 367,600 shares of the medical equipment provider’s stock valued at $25,177,000 after buying an additional 155,100 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Boston Scientific by 9.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,696,861 shares of the medical equipment provider’s stock valued at $115,879,000 after buying an additional 145,754 shares in the last quarter. Finally, Cetera Advisor Networks LLC boosted its holdings in Boston Scientific by 11.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after purchasing an additional 21,252 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BSX has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price target on shares of Boston Scientific in a report on Thursday, July 25th. Robert W. Baird lifted their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Raymond James boosted their price target on shares of Boston Scientific from $85.00 to $91.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Needham & Company LLC boosted their price target on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Two equities research 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’s stock. According to MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $84.76.

Boston Scientific Price Performance

Shares of BSX stock traded down $0.66 on Friday, hitting $74.50. 5,500,518 shares of the stock traded hands, compared to its average volume of 6,960,298. The firm has a market cap of $109.30 billion, a price-to-earnings ratio of 62.61, a PEG ratio of 2.49 and a beta of 0.78. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $79.43. The firm has a 50 day simple moving average of $76.42 and a two-hundred day simple moving average of $70.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. Boston Scientific’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. As a group, equities research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Boston Scientific news, Director Charles J. Dockendorff sold 3,946 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. 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 Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The disclosure for this sale can be found here. Insiders sold 51,837 shares of company stock valued at $3,884,563 in the last three months. Corporate 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.