Wolff Wiese Magana LLC Purchases 2,905 Shares of Boston Scientific Co. (NYSE:BSX)

Wolff Wiese Magana LLC grew its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 7,262.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,945 shares of the medical equipment provider’s stock after buying an additional 2,905 shares during the period. Wolff Wiese Magana LLC’s holdings in Boston Scientific were worth $247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors boosted its stake in Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after acquiring an additional 6,588,256 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after purchasing an additional 3,608,158 shares in the last quarter. Capital Research Global Investors bought a new stake in shares of Boston Scientific in the 1st quarter worth approximately $182,897,000. Vanguard Group Inc. grew its stake in shares of Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after buying an additional 1,988,082 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Boston Scientific by 30.0% during the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after buying an additional 1,824,405 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $87.02 on Thursday. Boston Scientific Co. has a 12-month low of $49.15 and a 12-month high of $88.09. The firm has a market capitalization of $127.66 billion, a price-to-earnings ratio of 73.12, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $82.03 and a 200 day moving average of $76.89.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, research analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on 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 transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 316,253 shares of company stock worth $26,714,298 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BSX shares. Barclays increased their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Morgan Stanley lifted their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Citigroup raised their price target on shares of Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada boosted their price objective on shares of Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.55.

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.