Zimmermann Investment Management & Planning LLC Invests $202,000 in Boston Scientific Co. (NYSE:BSX)

Zimmermann Investment Management & Planning LLC acquired a new position in Boston Scientific Co. (NYSE:BSX) in the 2nd quarter, HoldingsChannel reports. The firm acquired 2,621 shares of the medical equipment provider’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eagle Bay Advisors LLC increased its position in shares of Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. First Foundation Advisors bought a new position in Boston Scientific during the first quarter valued at $25,000. Triad Wealth Partners LLC bought a new position in Boston Scientific during the second quarter valued at $26,000. RiverPark Advisors LLC bought a new position in Boston Scientific during the first quarter valued at $30,000. Finally, Lynx Investment Advisory bought a new position in Boston Scientific during the second quarter valued at $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Down 0.4 %

Shares of Boston Scientific stock traded down $0.31 during midday trading on Wednesday, reaching $79.52. 4,155,476 shares of the company’s stock traded hands, compared to its average volume of 6,098,590. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The company has a market cap of $116.66 billion, a PE ratio of 66.82, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The stock has a 50 day moving average of $76.73 and a 200-day moving average of $72.71. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $80.02.

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

Analyst Ratings Changes

BSX has been the subject of several research reports. Raymond James increased their price objective on Boston Scientific from $85.00 to $91.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. TD Cowen raised their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. BTIG Research raised their price target on shares of Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 15th. Evercore ISI upped their price target on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Two 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.24.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares in the company, valued at $3,316,788.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 20,949 shares of company stock worth $1,583,395. 0.50% of the stock is owned by corporate insiders.

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.