Avidian Wealth Enterprises LLC Raises Stake in Boston Scientific Co. (NYSE:BSX)

Avidian Wealth Enterprises LLC boosted its holdings in Boston Scientific Co. (NYSE:BSX) by 6.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,713 shares of the medical equipment provider’s stock after purchasing an additional 269 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Boston Scientific were worth $395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BSX. BDF Gestion bought a new position in Boston Scientific during the 2nd quarter valued at approximately $3,570,000. LRI Investments LLC purchased a new stake in shares of Boston Scientific in the first quarter worth $139,000. Cetera Advisor Networks LLC increased its holdings in shares of Boston Scientific by 11.8% during the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after acquiring an additional 21,252 shares in the last quarter. Brookstone Capital Management raised its position in shares of Boston Scientific by 389.1% in the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after purchasing an additional 55,645 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Boston Scientific by 56.6% during the 1st quarter. Empowered Funds LLC now owns 24,858 shares of the medical equipment provider’s stock valued at $1,703,000 after purchasing an additional 8,982 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BSX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Thursday, October 31st. BTIG Research boosted their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday. Mizuho boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley increased their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Four 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Stock Performance

NYSE:BSX opened at $86.90 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.48. The stock has a 50-day simple moving average of $84.35 and a two-hundred day simple moving average of $78.74. The firm has a market capitalization of $128.08 billion, a PE ratio of 71.80, a P/E/G ratio of 2.50 and a beta of 0.79. Boston Scientific Co. has a 52-week low of $50.84 and a 52-week high of $88.79.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the previous year, the company posted $0.50 EPS. The firm’s revenue was up 19.3% on a year-over-year basis. Analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the transaction, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Michael F. Mahoney sold 162,777 shares of the business’s 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 owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock worth $26,196,718 in the last three months. Company insiders own 0.50% of the company’s stock.

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.