Truvestments Capital LLC Takes $49,000 Position in Boston Scientific Co. (NYSE:BSX)

Truvestments Capital LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) in the third quarter, according to its most recent filing with the SEC. The fund purchased 580 shares of the medical equipment provider’s stock, valued at approximately $49,000.

Other institutional investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares during the last quarter. BDF Gestion bought a new position in Boston Scientific during the 2nd quarter worth $3,570,000. Cetera Advisor Networks LLC boosted its position in Boston Scientific by 11.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after acquiring an additional 21,252 shares during the period. Brookstone Capital Management boosted its position in Boston Scientific by 389.1% during the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after acquiring an additional 55,645 shares during the period. Finally, HWG Holdings LP acquired a new position in Boston Scientific during the 2nd quarter worth $482,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Up 0.6 %

NYSE:BSX opened at $90.76 on Thursday. The firm has a market capitalization of $133.76 billion, a price-to-earnings ratio of 75.01, a PEG ratio of 2.63 and a beta of 0.79. Boston Scientific Co. has a 1-year low of $53.93 and a 1-year high of $91.93. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average price is $86.43 and its 200 day moving average price is $80.51.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share. On average, sell-side analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 9.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock valued at $27,894,270 in the last three months. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Canaccord Genuity Group boosted their price target on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. TD Cowen boosted their price target on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Stifel Nicolaus boosted their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Bank of America boosted their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price target on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.39.

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.