Strengthening Families & Communities LLC Has $1.81 Million Position in Boston Scientific Co. (NYSE:BSX)

Strengthening Families & Communities LLC boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 9.6% during the third quarter, Holdings Channel reports. The institutional investor owned 21,538 shares of the medical equipment provider’s stock after acquiring an additional 1,887 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Boston Scientific were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors raised its holdings in shares of Boston Scientific by 69.9% in the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after buying an additional 6,588,256 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Boston Scientific by 115.9% in the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after buying an additional 3,608,158 shares during the last quarter. Capital Research Global Investors bought a new position in shares of Boston Scientific in the first quarter valued at about $182,897,000. AustralianSuper Pty Ltd raised its holdings in shares of Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after buying an additional 2,615,903 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after buying an additional 1,824,405 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

Boston Scientific stock opened at $86.99 on Monday. Boston Scientific Co. has a 12-month low of $53.56 and a 12-month high of $89.30. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $85.26 and its two-hundred day moving average price is $79.59. The stock has a market cap of $128.21 billion, a PE ratio of 71.89, a P/E/G ratio of 2.56 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. As a group, analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This represents a 45.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This trade represents a 15.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 309,270 shares of company stock worth $26,196,718. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Raymond James boosted their target price on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Robert W. Baird boosted their target price on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Bank of America upped their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific 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.