GLOBALT Investments LLC GA Acquires New Holdings in Boston Scientific Co. (NYSE:BSX)

GLOBALT Investments LLC GA bought a new position in shares of Boston Scientific Co. (NYSE:BSX) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,570 shares of the medical equipment provider’s stock, valued at approximately $718,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BDF Gestion acquired a new position in Boston Scientific in the 2nd quarter valued at $3,570,000. LRI Investments LLC bought a new stake in Boston Scientific during the 1st quarter valued at approximately $139,000. Cetera Advisor Networks LLC grew 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 buying an additional 21,252 shares during the last quarter. Brookstone Capital Management increased its position in Boston Scientific by 389.1% in the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after buying an additional 55,645 shares during the period. Finally, HWG Holdings LP bought a new stake in shares of Boston Scientific in the second quarter valued at approximately $482,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Up 4.0 %

Shares of NYSE BSX opened at $90.45 on Tuesday. Boston Scientific Co. has a 1-year low of $53.93 and a 1-year high of $91.08. The company has a 50-day moving average of $85.42 and a two-hundred day moving average of $79.72. The company has a market cap of $133.31 billion, a PE ratio of 74.75, a P/E/G ratio of 2.56 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted $0.50 EPS. As a group, equities analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. This represents a 15.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 309,270 shares of company stock worth $26,196,718 over the last 90 days. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on BSX shares. Barclays upped their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Stifel Nicolaus upped their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. TD Cowen lifted their target price on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Canaccord Genuity Group upped their price target on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Morgan Stanley raised their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.39.

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.