Avantax Advisory Services Inc. Boosts Stake in Boston Scientific Co. (NYSE:BSX)

Avantax Advisory Services Inc. increased its stake in shares of Boston Scientific Co. (NYSE:BSXGet Rating) by 18.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,641 shares of the medical equipment provider’s stock after purchasing an additional 2,490 shares during the period. Avantax Advisory Services Inc.’s holdings in Boston Scientific were worth $606,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BSX. Crewe Advisors LLC purchased a new position in shares of Boston Scientific during the 2nd quarter worth approximately $27,000. CoreCap Advisors LLC purchased a new position in shares of Boston Scientific during the 2nd quarter worth approximately $27,000. TCI Wealth Advisors Inc. boosted its position in shares of Boston Scientific by 98.8% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 857 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 426 shares during the period. Charter Oak Capital Management LLC acquired a new stake in Boston Scientific during the 2nd quarter worth approximately $34,000. Finally, Acadian Asset Management LLC acquired a new stake in Boston Scientific during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BSX. Morgan Stanley increased their target price on shares of Boston Scientific from $50.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. Mizuho began coverage on shares of Boston Scientific in a report on Thursday, December 22nd. They set a “neutral” rating and a $52.00 target price on the stock. TheStreet lowered shares of Boston Scientific from a “b-” rating to a “c” rating in a report on Monday, November 28th. Citigroup began coverage on shares of Boston Scientific in a report on Tuesday, December 20th. They set a “buy” rating and a $54.00 target price on the stock. Finally, StockNews.com started coverage on shares of Boston Scientific in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Boston Scientific Stock Up 0.4 %

Shares of NYSE:BSX opened at $45.62 on Monday. The stock has a market capitalization of $65.34 billion, a price-to-earnings ratio of 108.62, a price-to-earnings-growth ratio of 2.30 and a beta of 0.83. Boston Scientific Co. has a 1-year low of $34.98 and a 1-year high of $47.95. The company’s fifty day moving average is $45.42 and its two-hundred day moving average is $42.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.95 and a current ratio of 1.45.

Boston Scientific (NYSE:BSXGet Rating) last issued its earnings results on Wednesday, October 26th. The medical equipment provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.14 billion. Boston Scientific had a return on equity of 14.55% and a net margin of 5.19%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company posted $0.41 earnings per share. Equities analysts anticipate that Boston Scientific Co. will post 1.73 EPS for the current year.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 7,500 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $46.62, for a total transaction of $349,650.00. Following the completion of the transaction, the executive vice president now owns 87,413 shares in the company, valued at $4,075,194.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Wendy Carruthers sold 7,500 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $46.62, for a total transaction of $349,650.00. Following the completion of the transaction, the executive vice president now owns 87,413 shares in the company, valued at $4,075,194.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 125,827 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $41.97, for a total transaction of $5,280,959.19. Following the transaction, the chief executive officer now owns 1,767,665 shares of the company’s stock, valued at approximately $74,188,900.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,265 shares of company stock worth $9,561,634. Insiders own 0.71% of the company’s stock.

Boston Scientific Profile

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Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. 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.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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