Toroso Investments LLC Raises Position in Boston Scientific Co. (NYSE:BSX)

Toroso Investments LLC raised its position in shares of Boston Scientific Co. (NYSE:BSX – Get Rating) by 6.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,242 shares of the medical equipment provider’s stock after purchasing an additional 3,278 shares during the period. Toroso Investments LLC’s holdings in Boston Scientific were worth $2,256,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CoreCap Advisors LLC purchased a new stake in Boston Scientific in the second quarter worth about $27,000. Acadian Asset Management LLC purchased a new stake in Boston Scientific in the first quarter worth about $35,000. Massmutual Trust Co. FSB ADV lifted its holdings in Boston Scientific by 68.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,000 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 406 shares during the period. CVA Family Office LLC lifted its holdings in shares of Boston Scientific by 952.6% during the third quarter. CVA Family Office LLC now owns 1,000 shares of the medical equipment provider’s stock valued at $39,000 after purchasing an additional 905 shares during the last quarter. Finally, Adirondack Trust Co. lifted its holdings in shares of Boston Scientific by 126.0% during the third quarter. Adirondack Trust Co. now owns 1,130 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 630 shares during the last quarter. 90.23% of the stock is owned by institutional investors.

Boston Scientific Trading Up 0.7 %

NYSE:BSX opened at $48.30 on Friday. The firm has a 50 day moving average of $46.83 and a 200 day moving average of $44.16. The stock has a market capitalization of $69.30 billion, a price-to-earnings ratio of 107.34, a PEG ratio of 2.24 and a beta of 0.79. Boston Scientific Co. has a 52 week low of $34.98 and a 52 week high of $48.87. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.51.

Boston Scientific (NYSE:BSX – Get Rating) last posted its quarterly earnings results on Wednesday, February 1st. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Boston Scientific had a return on equity of 14.29% and a net margin of 5.50%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, CFO Daniel J. Brennan sold 75,610 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $46.64, for a total value of $3,526,450.40. Following the completion of the transaction, the chief financial officer now owns 255,958 shares of the company’s stock, valued at $11,937,881.12. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Daniel J. Brennan sold 75,610 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $46.64, for a total transaction of $3,526,450.40. Following the completion of the transaction, the chief financial officer now owns 255,958 shares of the company’s stock, valued at $11,937,881.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jonathan Monson sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $46.66, for a total transaction of $233,300.00. Following the sale, the chief accounting officer now owns 34,868 shares in the company, valued at approximately $1,626,940.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,182 shares of company stock valued at $5,432,674. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $48.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, February 2nd. Stifel Nicolaus lifted their target price on shares of Boston Scientific from $50.00 to $52.00 in a research report on Wednesday, February 1st. Mizuho initiated coverage on shares of Boston Scientific in a research report on Thursday, December 22nd. They issued a “neutral” rating and a $52.00 target price for the company. Barclays lifted their target price on shares of Boston Scientific from $49.00 to $53.00 in a research report on Wednesday, January 4th. Finally, Raymond James boosted their price objective on shares of Boston Scientific from $54.00 to $56.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 2nd. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $51.50.

Boston Scientific Profile

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Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical procedures. It operates through the MedSurg and Cardiovascular segments. The MedSurg segment includes Urology and Neuromodulation. The Cardiovascular segment consists of Cardiology and Peripheral Interventions.