CWA Asset Management Group LLC Makes New $666,000 Investment in Boston Scientific Co. (NYSE:BSX)

CWA Asset Management Group LLC acquired a new position in Boston Scientific Co. (NYSE:BSX - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,945 shares of the medical equipment provider's stock, valued at approximately $666,000.

Other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in shares of Boston Scientific by 56.6% during the first 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 period. Atomi Financial Group Inc. boosted its position in shares of Boston Scientific by 23.9% in the first quarter. Atomi Financial Group Inc. now owns 6,030 shares of the medical equipment provider's stock worth $413,000 after purchasing an additional 1,163 shares during the period. Concurrent Investment Advisors LLC boosted its stake in Boston Scientific by 14.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 8,301 shares of the medical equipment provider's stock worth $569,000 after purchasing an additional 1,066 shares during the period. Meeder Asset Management Inc. grew its holdings in Boston Scientific by 7.9% during the 1st quarter. Meeder Asset Management Inc. now owns 4,102 shares of the medical equipment provider's stock valued at $281,000 after buying an additional 299 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Boston Scientific by 8.2% in the first quarter. QRG Capital Management Inc. now owns 93,198 shares of the medical equipment provider's stock worth $6,383,000 after acquiring an additional 7,065 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSX has been the topic of a number of research reports. Canaccord Genuity Group raised their price objective on Boston Scientific from $88.00 to $98.00 and gave the company a "buy" rating in a report on Monday, October 21st. Morgan Stanley upped their price target on Boston Scientific from $92.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Royal Bank of Canada increased their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Truist Financial boosted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company boosted their price target on Boston Scientific from $87.00 to $98.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $93.39.

Boston Scientific Stock Performance

Shares of BSX traded up $0.24 during mid-day trading on Tuesday, reaching $88.72. 4,916,694 shares of the company's stock traded hands, compared to its average volume of 6,077,406. The business's 50-day moving average price is $84.74 and its 200-day moving average price is $79.15. 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 market capitalization of $130.76 billion, a P/E ratio of 73.12, a price-to-earnings-growth ratio of 2.60 and a beta of 0.79. Boston Scientific Co. has a 12 month low of $52.99 and a 12 month high of $89.00.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates 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%. The company's quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. Equities analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was 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 in the company, valued at $133,046,484.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, October 1st. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock worth $26,196,718 over the last three months. 0.50% of the stock is owned by company insiders.

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.