Great Valley Advisor Group Inc. Acquires 1,074 Shares of Boston Scientific Co. (NYSE:BSX)

Great Valley Advisor Group Inc. boosted its holdings in Boston Scientific Co. (NYSE:BSX) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,455 shares of the medical equipment provider’s stock after acquiring an additional 1,074 shares during the period. Great Valley Advisor Group Inc.’s holdings in Boston Scientific were worth $3,390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BSX. Triad Wealth Partners LLC bought a new stake in Boston Scientific in the 2nd quarter valued at $26,000. Values First Advisors Inc. bought a new position in Boston Scientific during the 3rd quarter worth $28,000. Andra AP fonden bought a new position in Boston Scientific during the 2nd quarter worth $29,000. Lynx Investment Advisory bought a new position in Boston Scientific during the 2nd quarter worth $30,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Boston Scientific during the 3rd quarter worth $30,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 1.6 %

Shares of BSX stock opened at $90.00 on Monday. Boston Scientific Co. has a fifty-two week low of $53.93 and a fifty-two week high of $91.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The stock has a 50 day simple moving average of $85.99 and a two-hundred day simple moving average of $80.22. The company has a market cap of $132.64 billion, a P/E ratio of 74.38, a PEG ratio of 2.69 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year. Research analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This represents a 15.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 314,147 shares of company stock valued at $26,643,598. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Evercore ISI increased their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Truist Financial increased their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada increased their price objective on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Monday, November 18th. Finally, Wells Fargo & Company raised their price target on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Four research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.39.

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.