Prosperity Consulting Group LLC Buys 1,354 Shares of Boston Scientific Co. (NYSE:BSX)

Prosperity Consulting Group LLC lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 17.3% in the second quarter, Holdings Channel.com reports. The fund owned 9,192 shares of the medical equipment provider’s stock after acquiring an additional 1,354 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Boston Scientific were worth $708,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. CVA Family Office LLC increased its holdings in Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after purchasing an additional 131 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Boston Scientific by 0.6% in the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock worth $1,740,000 after purchasing an additional 139 shares in the last quarter. ST Germain D J Co. Inc. increased its holdings in Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after purchasing an additional 143 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 148 shares in the last quarter. Finally, Transcend Capital Advisors LLC increased its holdings in Boston Scientific by 2.2% in the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 148 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the transaction, the executive vice president now owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 20,949 shares of company stock valued at $1,627,877 in the last 90 days. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Down 0.6 %

BSX stock opened at $83.31 on Friday. The stock’s fifty day simple moving average is $78.08 and its two-hundred day simple moving average is $74.11. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $84.11. The stock has a market cap of $122.68 billion, a P/E ratio of 70.01, a P/E/G ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. Analysts expect that Boston Scientific Co. will post 2.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Morgan Stanley boosted their price objective on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. TD Cowen boosted their price objective on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Raymond James boosted their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Robert W. Baird boosted their price objective on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $85.38.

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.