GDS Wealth Management Makes New Investment in Boston Scientific Co. (NYSE:BSX)

GDS Wealth Management acquired a new stake in Boston Scientific Co. (NYSE:BSX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,849 shares of the medical equipment provider's stock, valued at approximately $490,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific during the 2nd quarter valued at $26,000. Values First Advisors Inc. purchased a new position in shares of Boston Scientific in the 3rd quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Boston Scientific in the 3rd quarter worth about $30,000. Capital Performance Advisors LLP purchased a new stake in Boston Scientific during the 3rd quarter valued at about $30,000. Finally, First Foundation Advisors bought a new stake in Boston Scientific during the 1st quarter valued at about $25,000. 89.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BSX. TD Cowen upped their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. BTIG Research upped their price objective on Boston Scientific from $84.00 to $93.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Evercore ISI lifted their target price on Boston Scientific from $82.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. Wells Fargo & Company upped their price target on Boston Scientific from $87.00 to $98.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Boston Scientific in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $93.39.

Insiders Place Their Bets

In other news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 in the company, valued at approximately $2,913,967.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock worth $26,196,718 in the last three months. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

Shares of BSX stock traded up $0.34 on Monday, hitting $88.59. 1,967,305 shares of the stock traded hands, compared to its average volume of 6,073,097. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.14. Boston Scientific Co. has a 52 week low of $52.99 and a 52 week high of $88.94. The firm has a 50 day simple moving average of $84.61 and a two-hundred day simple moving average of $79.05. The firm has a market cap of $130.57 billion, a price-to-earnings ratio of 73.17, a PEG ratio of 2.60 and a beta of 0.79.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 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 business had revenue of $4.21 billion for the quarter, compared to analysts' expectations of $4.04 billion. During the same period last year, the firm earned $0.50 earnings per share. The business's quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities research analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

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.