Brown Financial Advisors Buys Shares of 18,484 Boston Scientific Co. (NYSE:BSX)

Brown Financial Advisors bought a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 18,484 shares of the medical equipment provider’s stock, valued at approximately $1,423,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BSX. Eagle Bay Advisors LLC lifted its holdings in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. First Foundation Advisors acquired a new position in shares of Boston Scientific during the first quarter worth approximately $25,000. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific during the second quarter worth approximately $26,000. Andra AP fonden acquired a new position in shares of Boston Scientific in the second quarter valued at $29,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Boston Scientific in the first quarter valued at $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Boston Scientific stock opened at $84.14 on Wednesday. The business’s 50-day simple moving average is $79.55 and its 200 day simple moving average is $75.56. The stock has a market cap of $123.44 billion, a price-to-earnings ratio of 70.71, a P/E/G ratio of 2.78 and a beta of 0.79. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $84.89. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

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

Analyst Ratings Changes

A number of brokerages recently commented on BSX. Evercore ISI upped their target price on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday. Citigroup upped their target price on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft upped their target price on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, TD Cowen upped their target price on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $87.10.

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.