Ignite Planners LLC Boosts Stake in Boston Scientific Co. (NYSE:BSX)

Ignite Planners LLC increased its holdings in Boston Scientific Co. (NYSE:BSX) by 14.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,695 shares of the medical equipment provider’s stock after buying an additional 458 shares during the period. Ignite Planners LLC’s holdings in Boston Scientific were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. First Foundation Advisors bought a new position in shares of Boston Scientific during the 1st quarter valued at approximately $25,000. Eagle Bay Advisors LLC increased its position in Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of Boston Scientific during the 2nd quarter worth $30,000. RiverPark Advisors LLC purchased a new stake in Boston Scientific in the 1st quarter worth about $30,000. Finally, Northwest Investment Counselors LLC bought a new stake in Boston Scientific in the 1st quarter valued at about $31,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Up 0.8 %

Shares of NYSE BSX traded up $0.64 during midday trading on Friday, reaching $76.19. The company had a trading volume of 3,835,101 shares, compared to its average volume of 6,292,619. The stock has a market cap of $111.78 billion, a PE ratio of 64.03, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. Boston Scientific Co. has a one year low of $48.35 and a one year high of $79.43. The firm’s fifty day moving average price is $76.34 and its 200-day moving average price is $71.39. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Activity

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

Analysts Set New Price Targets

A number of brokerages recently commented on BSX. JPMorgan Chase & Co. upped their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Mizuho lifted their price target on Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Argus increased their price objective on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Canaccord Genuity Group raised their target price on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley upped their price target on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.76.

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.