Pittenger & Anderson Inc. Invests $419,000 in Boston Scientific Co. (NYSE:BSX)

Pittenger & Anderson Inc. bought a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,000 shares of the medical equipment provider’s stock, valued at approximately $419,000.

Several other institutional investors also recently bought and sold shares of the company. Eagle Bay Advisors LLC increased its holdings 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 in the last quarter. First Foundation Advisors purchased a new position in shares of Boston Scientific in the first quarter worth $25,000. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific during the second quarter worth $26,000. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific during the third quarter valued at $28,000. Finally, Andra AP fonden acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $29,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on BSX. Truist Financial boosted their price target on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Evercore ISI increased their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Mizuho lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Thursday, October 31st. Finally, Barclays boosted their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Stock Up 1.0 %

Shares of NYSE BSX opened at $85.54 on Wednesday. Boston Scientific Co. has a 52-week low of $50.84 and a 52-week high of $88.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company’s 50-day simple moving average is $84.21 and its 200-day simple moving average is $78.68. The firm has a market cap of $125.97 billion, a price-to-earnings ratio of 70.69, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.41% and a net margin of 11.26%. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 EPS. Equities analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares in the company, valued at approximately $2,913,967.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their position. 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 insiders.

Boston Scientific Company 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.