Soltis Investment Advisors LLC Buys New Position in Boston Scientific Co. (NYSE:BSX)

Soltis Investment Advisors LLC purchased a new position in Boston Scientific Co. (NYSE:BSX) in the third quarter, HoldingsChannel.com reports. The firm purchased 2,860 shares of the medical equipment provider’s stock, valued at approximately $240,000.

Several other large investors also recently bought and sold shares of the company. Dunhill Financial LLC boosted its stake in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the period. Triad Wealth Partners LLC acquired a new position in Boston Scientific in the 2nd quarter worth $26,000. Values First Advisors Inc. purchased a new position in Boston Scientific in the 3rd quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Boston Scientific during the third quarter valued at about $30,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Boston Scientific during the third quarter valued at about $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of analyst reports. Citigroup increased their price target on Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. BTIG Research lifted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Morgan Stanley increased their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company boosted their target price on shares of Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday. 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, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $94.43.

Boston Scientific Stock Performance

BSX stock opened at $90.42 on Friday. Boston Scientific Co. has a 1 year low of $54.95 and a 1 year high of $91.93. The stock has a market capitalization of $133.26 billion, a price-to-earnings ratio of 74.81, a PEG ratio of 2.65 and a beta of 0.80. 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’s fifty day moving average is $87.74 and its two-hundred day moving average is $81.61.

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

Insider Transactions at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 328,157 shares of company stock worth $27,957,676. Company insiders own 0.50% of the company’s stock.

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.