Choreo LLC Buys Shares of 27,117 Boston Scientific Co. (NYSE:BSX)

Choreo LLC bought a new position in Boston Scientific Co. (NYSE:BSX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 27,117 shares of the medical equipment provider’s stock, valued at approximately $2,073,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Precision Wealth Strategies LLC bought a new position in Boston Scientific during the fourth quarter valued at approximately $956,000. Aveo Capital Partners LLC boosted its holdings in Boston Scientific by 1.3% in the fourth quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock worth $742,000 after purchasing an additional 171 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Boston Scientific by 10.6% in the fourth quarter. Private Advisor Group LLC now owns 26,735 shares of the medical equipment provider’s stock worth $1,546,000 after purchasing an additional 2,572 shares in the last quarter. Principal Securities Inc. acquired a new position in Boston Scientific during the fourth quarter worth $233,000. Finally, Jump Financial LLC bought a new position in Boston Scientific during the fourth quarter valued at about $361,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley increased their price objective on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Barclays boosted their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. raised their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. The Goldman Sachs Group initiated coverage on shares of Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 target price for the company. Finally, Argus raised their price target on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Two 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.38.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 20,949 shares of company stock valued at $1,627,877. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.5 %

Shares of Boston Scientific stock opened at $83.04 on Wednesday. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $83.22. The firm has a market capitalization of $122.29 billion, a PE ratio of 69.78, a price-to-earnings-growth ratio of 2.71 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The company’s fifty day moving average price is $77.65 and its two-hundred day moving average price is $73.81.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, analysts expect that Boston Scientific Co. will post 2.4 EPS for the current year.

Boston Scientific 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.