Eventide Asset Management LLC Takes $734,000 Position in Boston Scientific Co. (NYSE:BSX)

Eventide Asset Management LLC acquired a new position in Boston Scientific Co. (NYSE:BSX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,755 shares of the medical equipment provider’s stock, valued at approximately $734,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BSX. Icon Wealth Advisors LLC acquired a new stake in shares of Boston Scientific during the 3rd quarter worth approximately $100,000. Rockefeller Capital Management L.P. boosted its stake in Boston Scientific by 10.6% in the third quarter. Rockefeller Capital Management L.P. now owns 137,964 shares of the medical equipment provider’s stock valued at $11,536,000 after acquiring an additional 13,268 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Boston Scientific by 0.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 33,367 shares of the medical equipment provider’s stock worth $2,796,000 after acquiring an additional 263 shares during the period. Northwest & Ethical Investments L.P. grew its holdings in Boston Scientific by 91.2% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 74,098 shares of the medical equipment provider’s stock worth $6,210,000 after acquiring an additional 35,336 shares during the period. Finally, Castle Hook Partners LP bought a new stake in shares of Boston Scientific during the 3rd quarter valued at $25,869,000. 89.07% of the stock is owned by institutional investors.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This represents a 16.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 328,157 shares of company stock valued at $27,894,270. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BSX shares. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Sanford C. Bernstein raised their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Citigroup upped their price target on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Morgan Stanley lifted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada upped their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Stock Down 0.1 %

BSX stock opened at $90.66 on Friday. The business has a 50-day moving average of $86.70 and a 200-day moving average of $80.71. Boston Scientific Co. has a fifty-two week low of $53.93 and a fifty-two week high of $91.93. The stock has a market capitalization of $133.62 billion, a P/E ratio of 74.93, a P/E/G ratio of 2.67 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last released 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. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the firm posted $0.50 EPS. The business’s revenue was up 19.3% on a year-over-year basis. On average, sell-side analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

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.