Veritable L.P. Purchases 256 Shares of Boston Scientific Co. (NYSE:BSX)

Veritable L.P. raised its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,722 shares of the medical equipment provider’s stock after acquiring an additional 256 shares during the quarter. Veritable L.P.’s holdings in Boston Scientific were worth $1,337,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Spire Wealth Management lifted its holdings in Boston Scientific by 38.0% in the 2nd quarter. Spire Wealth Management now owns 3,257 shares of the medical equipment provider’s stock worth $176,000 after purchasing an additional 897 shares in the last quarter. AGF Management Ltd. lifted its holdings in shares of Boston Scientific by 70.0% in the second quarter. AGF Management Ltd. now owns 3,950,028 shares of the medical equipment provider’s stock worth $213,657,000 after buying an additional 1,626,426 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Boston Scientific by 16.7% during the second quarter. TD Asset Management Inc now owns 1,142,309 shares of the medical equipment provider’s stock worth $61,787,000 after acquiring an additional 163,329 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Boston Scientific by 5.5% during the second quarter. Canada Pension Plan Investment Board now owns 6,741,466 shares of the medical equipment provider’s stock valued at $364,646,000 after acquiring an additional 351,980 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Boston Scientific by 12.3% in the 2nd quarter. Intech Investment Management LLC now owns 187,126 shares of the medical equipment provider’s stock valued at $10,122,000 after acquiring an additional 20,532 shares during the last quarter. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 1.5 %

Shares of BSX opened at $54.67 on Friday. The firm has a fifty day moving average price of $52.10 and a 200-day moving average price of $52.31. The company has a current ratio of 1.42, a quick ratio of 0.90 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $80.09 billion, a P/E ratio of 66.67, a P/E/G ratio of 2.14 and a beta of 0.77. Boston Scientific Co. has a 12-month low of $41.93 and a 12-month high of $55.38.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Boston Scientific had a net margin of 8.93% and a return on equity of 15.46%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 EPS. Equities research analysts expect that Boston Scientific Co. will post 2.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BSX has been the subject of several research reports. Oppenheimer increased their price objective on shares of Boston Scientific from $58.00 to $59.00 in a report on Friday, July 28th. Stifel Nicolaus lifted their price objective on Boston Scientific from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Truist Financial reaffirmed a “buy” rating and set a $61.00 price objective on shares of Boston Scientific in a report on Thursday, September 21st. StockNews.com initiated coverage on shares of Boston Scientific in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Mizuho upped their price target on shares of Boston Scientific from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, September 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $60.55.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 6,600 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $50.40, for a total transaction of $332,640.00. Following the transaction, the executive vice president now owns 11,396 shares of the company’s stock, valued at approximately $574,358.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Boston Scientific news, SVP Vance R. Brown sold 15,750 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $50.52, for a total transaction of $795,690.00. Following the completion of the sale, the senior vice president now owns 28,578 shares in the company, valued at $1,443,760.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 6,600 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $50.40, for a total value of $332,640.00. Following the sale, the executive vice president now directly owns 11,396 shares in the company, valued at approximately $574,358.40. The disclosure for this sale can be found here. Insiders sold a total of 415,596 shares of company stock valued at $21,922,137 in the last ninety days. Corporate insiders own 0.71% of the company’s stock.

About Boston Scientific

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.