Boston Scientific Co. (NYSE:BSX) Position Increased by Zacks Investment Management

Zacks Investment Management increased its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 255,818 shares of the medical equipment provider's stock after acquiring an additional 17,891 shares during the quarter. Zacks Investment Management's holdings in Boston Scientific were worth $21,438,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BSX. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific during the second quarter worth $26,000. Values First Advisors Inc. acquired a new stake in Boston Scientific in the 3rd quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Boston Scientific in the 3rd quarter valued at about $30,000. Capital Performance Advisors LLP purchased a new stake in Boston Scientific in the 3rd quarter valued at about $30,000. Finally, Andra AP fonden acquired a new position in shares of Boston Scientific during the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Stock Down 0.5 %

Shares of Boston Scientific stock traded down $0.46 during trading hours on Friday, hitting $90.07. 3,302,016 shares of the company's stock traded hands, compared to its average volume of 4,982,464. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a twelve month low of $54.52 and a twelve month high of $91.93. The stock has a 50 day simple moving average of $87.40 and a 200-day simple moving average of $81.34. The company has a market cap of $132.75 billion, a PE ratio of 74.44, a PEG ratio of 2.68 and a beta of 0.80.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific's revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. Equities research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,877 shares of the company's stock in a transaction that occurred 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 sale, the director now directly owns 39,398 shares of the company's stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock worth $27,957,676 in the last ninety days. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on BSX. TD Cowen raised their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $87.00 to $98.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Sanford C. Bernstein upped their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Evercore ISI increased their target price on Boston Scientific from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Finally, Canaccord Genuity Group boosted their price target on Boston Scientific from $88.00 to $98.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Boston Scientific has an average rating of "Moderate Buy" and a consensus target price of $93.39.

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.