CRA Financial Services LLC Purchases Shares of 2,724 Boston Scientific Co. (NYSE:BSX)

CRA Financial Services LLC purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,724 shares of the medical equipment provider’s stock, valued at approximately $210,000.

Other large investors have also made changes to their positions in the company. Eagle Bay Advisors LLC lifted its position in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares in the last quarter. First Foundation Advisors purchased a new position in shares of Boston Scientific during the 1st quarter valued at about $25,000. RiverPark Advisors LLC purchased a new position in shares of Boston Scientific during the 1st quarter valued at about $30,000. Lynx Investment Advisory purchased a new position in shares of Boston Scientific during the 2nd quarter valued at about $30,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Boston Scientific during the 1st quarter valued at about $31,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Trading Up 0.8 %

Shares of NYSE BSX traded up $0.64 during trading hours on Friday, hitting $76.19. 3,835,101 shares of the company traded hands, compared to its average volume of 6,292,619. The stock has a market capitalization of $111.78 billion, a price-to-earnings ratio of 64.03, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $76.34 and its 200 day moving average price is $71.31. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $79.43.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion for 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%. Boston Scientific’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 EPS. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group began coverage on Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Mizuho boosted their price target on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Barclays boosted their price target on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $84.76.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares in the company, valued at approximately $1,521,641.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The disclosure for this sale can be found here. Insiders have sold 34,960 shares of company stock valued at $2,638,984 in the last quarter. 0.50% of the stock is owned by insiders.

About Boston Scientific

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.