Cypress Wealth Services LLC Invests $219,000 in Boston Scientific Co. (NYSE:BSX)

Cypress Wealth Services LLC acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,618 shares of the medical equipment provider’s stock, valued at approximately $219,000.

Several other hedge funds have also made changes to their positions in BSX. CVA Family Office LLC lifted its stake 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 acquiring an additional 131 shares during the period. International Assets Investment Management LLC raised 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. lifted its position in shares of Boston Scientific by 8.0% during the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after buying an additional 143 shares during the last quarter. Pinnacle Associates Ltd. grew its position in shares of Boston Scientific by 2.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after buying an additional 148 shares during the last quarter. Finally, Transcend Capital Advisors LLC boosted its stake 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 valued at $522,000 after acquiring an additional 148 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock valued at $26,714,298 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BSX. BTIG Research increased their price objective on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 15th. Raymond James boosted their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Evercore ISI increased their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Truist Financial upped their price target on shares of Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Robert W. Baird boosted their price objective on shares of 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, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.60.

Boston Scientific Trading Down 0.6 %

Shares of Boston Scientific stock opened at $86.17 on Friday. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $86.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The company has a market cap of $126.42 billion, a P/E ratio of 72.41, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80. The firm has a 50-day simple moving average of $80.74 and a two-hundred day simple moving average of $76.23.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

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.