Old Port Advisors Makes New $207,000 Investment in Boston Scientific Co. (NYSE:BSX)

Old Port Advisors bought a new position in shares of Boston Scientific Co. (NYSE:BSX) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 2,682 shares of the medical equipment provider’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BSX. Mackenzie Financial Corp boosted its position in shares of Boston Scientific by 65.1% during the 4th quarter. Mackenzie Financial Corp now owns 708,833 shares of the medical equipment provider’s stock valued at $40,978,000 after acquiring an additional 279,513 shares during the last quarter. Keel Point LLC boosted its position in shares of Boston Scientific by 9.4% during the 4th quarter. Keel Point LLC now owns 4,692 shares of the medical equipment provider’s stock valued at $271,000 after acquiring an additional 405 shares during the last quarter. Flputnam Investment Management Co. boosted its position in shares of Boston Scientific by 40.9% during the 4th quarter. Flputnam Investment Management Co. now owns 9,663 shares of the medical equipment provider’s stock valued at $559,000 after acquiring an additional 2,806 shares during the last quarter. SVB Wealth LLC boosted its position in shares of Boston Scientific by 12.0% during the 4th quarter. SVB Wealth LLC now owns 14,051 shares of the medical equipment provider’s stock valued at $812,000 after acquiring an additional 1,503 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Boston Scientific by 5.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 158,722 shares of the medical equipment provider’s stock valued at $9,176,000 after acquiring an additional 7,796 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.9 %

Shares of BSX stock traded up $0.67 during trading hours on Friday, reaching $78.25. 4,414,404 shares of the stock were exchanged, compared to its average volume of 6,225,274. The business’s fifty day moving average is $76.41 and its two-hundred day moving average is $71.87. 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 Co. has a 12-month low of $48.35 and a 12-month high of $79.43. The firm has a market capitalization of $114.80 billion, a P/E ratio of 65.76, a P/E/G ratio of 2.49 and a beta of 0.78.

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

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the transaction, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the sale, the executive vice president now directly owns 20,197 shares in the company, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Insiders sold 34,960 shares of company stock valued at $2,638,984 over the last three months. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price target on shares of Boston Scientific in a research report on Thursday, July 25th. Needham & Company LLC boosted their price objective on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI boosted their price objective on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Robert W. Baird boosted their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Mizuho boosted their price objective on shares of Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Two 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.76.

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.