Meitav Investment House Ltd. Takes Position in Boston Scientific Co. (NYSE:BSX)

Meitav Investment House Ltd. purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,400 shares of the medical equipment provider’s stock, valued at approximately $1,504,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fiduciary Alliance LLC acquired a new position in shares of Boston Scientific in the second quarter valued at about $25,000. BDO Wealth Advisors LLC grew its stake in shares of Boston Scientific by 209.4% in the second quarter. BDO Wealth Advisors LLC now owns 594 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 402 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Boston Scientific in the first quarter valued at about $32,000. Nemes Rush Group LLC acquired a new position in shares of Boston Scientific in the second quarter valued at about $33,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Boston Scientific in the first quarter valued at about $35,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BSX shares. Citigroup reiterated a “buy” rating and set a $63.00 price objective on shares of Boston Scientific in a research note on Thursday, September 21st. BTIG Research increased their price objective on shares of Boston Scientific from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Robert W. Baird increased their price objective on shares of Boston Scientific from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Royal Bank of Canada increased their price objective on shares of Boston Scientific from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Finally, Raymond James increased their price objective on shares of Boston Scientific from $60.00 to $61.00 in a research note on Friday, July 28th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.55.

Boston Scientific Stock Up 1.5 %

Shares of NYSE BSX opened at $54.67 on Friday. The company has a 50 day simple moving average of $52.10 and a 200 day simple moving average of $52.31. The firm has a market cap of $80.09 billion, a PE ratio of 66.67, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77. Boston Scientific Co. has a 1 year low of $41.93 and a 1 year high of $55.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.42 and a quick ratio of 0.90.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.48 billion. Boston Scientific had a net margin of 8.93% and a return on equity of 15.46%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 EPS. On average, research analysts forecast that Boston Scientific Co. will post 2.01 EPS for the current year.

Insider Transactions at Boston Scientific

In other news, SVP Vance R. Brown sold 15,750 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $50.52, for a total value of $795,690.00. Following the completion of the sale, the senior vice president now directly owns 28,578 shares in the company, valued at approximately $1,443,760.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Vance R. Brown sold 15,750 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $50.52, for a total value of $795,690.00. Following the completion of the sale, the senior vice president now directly owns 28,578 shares in the company, valued at approximately $1,443,760.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 11,671 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $53.95, for a total value of $629,650.45. Following the completion of the sale, the executive vice president now owns 57,058 shares of the company’s stock, valued at $3,078,279.10. The disclosure for this sale can be found here. Insiders have sold 415,596 shares of company stock valued at $21,922,137 in the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.