Lifeworks Advisors LLC Grows Holdings in Boston Scientific Co. (NYSE:BSX)

Lifeworks Advisors LLC grew its stake in Boston Scientific Co. (NYSE:BSX) by 48.3% during the third quarter, Holdings Channel.com reports. The fund owned 4,653 shares of the medical equipment provider’s stock after acquiring an additional 1,515 shares during the period. Lifeworks Advisors LLC’s holdings in Boston Scientific were worth $390,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the period. Capital World Investors raised its stake in shares of Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after acquiring an additional 6,588,256 shares during the period. Legal & General Group Plc raised its stake in shares of Boston Scientific by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after acquiring an additional 360,793 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Boston Scientific by 15.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock valued at $540,879,000 after acquiring an additional 1,027,543 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BSX has been the topic of several recent research reports. TD Cowen upped their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Thursday, October 31st. Raymond James upped their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Canaccord Genuity Group upped their target price 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. Finally, Truist Financial upped their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Trading Down 1.3 %

Shares of Boston Scientific stock opened at $87.59 on Friday. The company has a fifty day simple moving average of $85.03 and a 200-day simple moving average of $79.33. Boston Scientific Co. has a 12-month low of $53.56 and a 12-month high of $89.30. 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 stock has a market cap of $129.09 billion, a price-to-earnings ratio of 72.39, a PEG ratio of 2.61 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion during 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%. Boston Scientific’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. On average, equities analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The shares were 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 $13,639,695. This represents a 45.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock worth $26,196,718 in the last 90 days. Company insiders own 0.50% of the company’s stock.

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.