RiverPark Advisors LLC Increases Stake in Boston Scientific Co. (NYSE:BSX)

RiverPark Advisors LLC grew its position in Boston Scientific Co. (NYSE:BSX) by 49.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 653 shares of the medical equipment provider’s stock after acquiring an additional 215 shares during the quarter. RiverPark Advisors LLC’s holdings in Boston Scientific were worth $55,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BSX. Kingsview Wealth Management LLC raised its stake in shares of Boston Scientific by 4.1% in the first quarter. Kingsview Wealth Management LLC now owns 5,570 shares of the medical equipment provider’s stock valued at $381,000 after acquiring an additional 219 shares during the period. Blair William & Co. IL grew its holdings in shares of Boston Scientific by 9.3% in the first quarter. Blair William & Co. IL now owns 18,312 shares of the medical equipment provider’s stock worth $1,254,000 after purchasing an additional 1,560 shares during the last quarter. Nwam LLC bought a new position in shares of Boston Scientific in the first quarter worth about $229,000. First Foundation Advisors bought a new position in shares of Boston Scientific in the first quarter worth about $25,000. Finally, Nicolet Advisory Services LLC grew its holdings in shares of Boston Scientific by 4.8% in the first quarter. Nicolet Advisory Services LLC now owns 3,629 shares of the medical equipment provider’s stock worth $249,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock valued at $26,196,718 in the last three months. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Down 0.7 %

NYSE:BSX opened at $86.99 on Friday. The stock has a market capitalization of $128.21 billion, a P/E ratio of 71.89, a P/E/G ratio of 2.56 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company’s 50-day simple moving average is $85.26 and its 200-day simple moving average is $79.54. Boston Scientific Co. has a fifty-two week low of $53.56 and a fifty-two week high of $89.30.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the firm posted $0.50 EPS. On average, equities analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on BSX. Barclays upped their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price target on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Evercore ISI upped their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Canaccord Genuity Group increased their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Four investment 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. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus 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.