Boston Scientific Corporation $BSX Shares Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC raised its position in shares of Boston Scientific Corporation (NYSE:BSX) by 99.9% in the third quarter, Holdings Channel reports. The fund owned 22,541 shares of the medical equipment provider’s stock after buying an additional 11,267 shares during the quarter. Simplicity Wealth LLC’s holdings in Boston Scientific were worth $984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Perigon Wealth Management LLC acquired a new position in shares of Boston Scientific in the 2nd quarter worth approximately $883,000. Y Intercept Hong Kong Ltd increased its position in Boston Scientific by 148.8% in the second quarter. Y Intercept Hong Kong Ltd now owns 1,120,331 shares of the medical equipment provider’s stock worth $47,816,000 after purchasing an additional 670,060 shares during the period. Wealthfront Advisers LLC bought a new stake in shares of Boston Scientific during the second quarter worth approximately $3,253,000. PensionDanmark Pensionsforsikringsaktieselskab raised its position in shares of Boston Scientific by 9.9% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 320,038 shares of the medical equipment provider’s stock valued at $13,659,000 after acquiring an additional 28,961 shares during the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in Boston Scientific in the second quarter valued at about $38,539,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BSX has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Boston Scientific from $71.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Jefferies Financial Group lowered their target price on shares of Boston Scientific from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Piper Sandler cut their target price on shares of Boston Scientific from $65.00 to $60.00 in a report on Wednesday, July 29th. Wells Fargo & Company reduced their price target on shares of Boston Scientific from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 23rd. Finally, Raymond James Financial reissued an “outperform” rating and set a $57.00 price target (down from $78.00) on shares of Boston Scientific in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.93.

Boston Scientific Trading Down 1.4%

NYSE:BSX opened at $44.95 on Wednesday. Boston Scientific Corporation has a fifty-two week low of $41.38 and a fifty-two week high of $105.65. The business’s 50-day simple moving average is $45.29 and its 200-day simple moving average is $57.71.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Boston Scientific’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Scientific Corporation will post 3.21 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Michael Mahoney purchased 186,240 shares of Boston Scientific stock in a transaction dated Monday, August 3rd. The stock was bought at an average price of $48.33 per share, for a total transaction of $9,000,979.20. Following the completion of the acquisition, the chief executive officer directly owned 1,590,024 shares of the company’s stock, valued at $76,845,859.92. This represents a 13.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward Ludwig acquired 5,000 shares of the stock in a transaction dated Friday, July 31st. The shares were bought at an average cost of $45.48 per share, with a total value of $227,400.00. Following the transaction, the director directly owned 30,359 shares of the company’s stock, valued at $1,380,727.32. This represents a 19.72% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 194,522 shares of company stock worth $9,385,210. Company insiders own 0.34% of the company’s stock.

Boston Scientific Profile

Boston Scientific Corporation is a medical technology company that develops, manufactures and markets devices used to diagnose and treat a broad range of complex medical conditions. Founded in 1979 and headquartered in Marlborough, Massachusetts, the company serves healthcare providers and patients worldwide.

Its products support minimally invasive procedures in areas including interventional cardiology, peripheral interventions, electrophysiology, endoscopy, urology and neuromodulation.