Rakuten Securities Inc. Acquires 720 Shares of Boston Scientific Co. (NYSE:BSX)

Rakuten Securities Inc. lifted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 648.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 831 shares of the medical equipment provider’s stock after purchasing an additional 720 shares during the period. Rakuten Securities Inc.’s holdings in Boston Scientific were worth $70,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC raised its stake in shares of Boston Scientific by 56.6% in the first quarter. Empowered Funds LLC now owns 24,858 shares of the medical equipment provider’s stock valued at $1,703,000 after buying an additional 8,982 shares during the period. Concurrent Investment Advisors LLC raised its stake in Boston Scientific by 14.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 8,301 shares of the medical equipment provider’s stock valued at $569,000 after acquiring an additional 1,066 shares during the period. Koshinski Asset Management Inc. purchased a new stake in Boston Scientific during the first quarter valued at about $250,000. TD Asset Management Inc boosted its position in Boston Scientific by 27.4% during the first quarter. TD Asset Management Inc now owns 2,059,261 shares of the medical equipment provider’s stock worth $141,039,000 after purchasing an additional 443,329 shares during the period. Finally, Eagle Bay Advisors LLC increased its stake in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $88.72 on Wednesday. The stock has a market capitalization of $130.76 billion, a price-to-earnings ratio of 73.32, a price-to-earnings-growth ratio of 2.60 and a beta of 0.79. The company has a fifty day moving average of $84.74 and a 200-day moving average of $79.15. Boston Scientific Co. has a 52-week low of $52.99 and a 52-week high of $89.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. Equities research analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on BSX shares. Bank of America raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. TD Cowen lifted their price target on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. BTIG Research increased their price objective on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company lifted their target price on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Truist Financial increased their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

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.