Summit Trail Advisors LLC Increases Position in Boston Scientific Co. (NYSE:BSX)

Summit Trail Advisors LLC boosted its stake in Boston Scientific Co. (NYSE:BSX) by 14.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,342 shares of the medical equipment provider’s stock after purchasing an additional 1,575 shares during the period. Summit Trail Advisors LLC’s holdings in Boston Scientific were worth $1,034,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the second quarter worth approximately $26,000. Values First Advisors Inc. acquired a new position in Boston Scientific in the 3rd quarter valued at $28,000. Andra AP fonden purchased a new position in Boston Scientific during the 2nd quarter worth $29,000. Lynx Investment Advisory acquired a new stake in shares of Boston Scientific in the 2nd quarter worth $30,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Boston Scientific in the third quarter valued at about $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSX has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Raymond James raised their price target on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Monday, November 18th. Morgan Stanley raised their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group upped their price target on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Four 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. According to data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Stock Down 0.8 %

BSX opened at $89.25 on Tuesday. The firm has a market cap of $131.53 billion, a P/E ratio of 73.76, a PEG ratio of 2.65 and a beta of 0.79. The business’s fifty day simple moving average is $86.11 and its 200 day simple moving average is $80.32. Boston Scientific Co. has a 52 week low of $53.93 and a 52 week high of $91.93. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 328,157 shares of company stock worth $27,894,270. 0.50% of the stock is owned by 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 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.