Avestar Capital LLC Boosts Stake in Boston Scientific Co. (NYSE:BSX)

Avestar Capital LLC lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 10.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,397 shares of the medical equipment provider’s stock after buying an additional 1,158 shares during the period. Avestar Capital LLC’s holdings in Boston Scientific were worth $1,039,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Advisors Asset Management Inc. increased its position in shares of Boston Scientific by 45.6% during the 1st quarter. Advisors Asset Management Inc. now owns 7,544 shares of the medical equipment provider’s stock valued at $517,000 after purchasing an additional 2,361 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in Boston Scientific by 28.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 50,808 shares of the medical equipment provider’s stock valued at $3,480,000 after buying an additional 11,138 shares during the period. Kennedy Capital Management LLC purchased a new stake in Boston Scientific during the first quarter worth about $3,021,000. B. Riley Wealth Advisors Inc. raised its position in Boston Scientific by 52.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 16,270 shares of the medical equipment provider’s stock worth $1,114,000 after acquiring an additional 5,564 shares during the period. Finally, Tidal Investments LLC boosted its stake in Boston Scientific by 33.9% in the first quarter. Tidal Investments LLC now owns 72,589 shares of the medical equipment provider’s stock valued at $4,972,000 after acquiring an additional 18,366 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

Shares of BSX opened at $90.19 on Wednesday. The stock has a 50-day moving average price of $86.26 and a 200-day moving average price of $80.44. The company has a market cap of $132.92 billion, a PE ratio of 74.54, a price-to-earnings-growth ratio of 2.65 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $53.93 and a 12-month high of $91.93.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction on Monday, October 7th. The shares were 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 directly owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 45.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock worth $27,894,270 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BSX. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Monday, November 18th. Truist Financial raised their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Bank of America upped their price target on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Evercore ISI lifted their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company upped their price objective on shares of Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Four equities 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.39.

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.