Kovitz Investment Group Partners LLC Invests $1.64 Million in Boston Scientific Co. (NYSE:BSX)

Kovitz Investment Group Partners LLC acquired a new stake in Boston Scientific Co. (NYSE:BSX - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund acquired 19,513 shares of the medical equipment provider's stock, valued at approximately $1,635,000.

Other hedge funds have also bought and sold shares of the company. Diversified Trust Co raised its stake in shares of Boston Scientific by 13.4% during the second quarter. Diversified Trust Co now owns 5,627 shares of the medical equipment provider's stock valued at $433,000 after acquiring an additional 666 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Boston Scientific by 7.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 71,068 shares of the medical equipment provider's stock worth $5,473,000 after buying an additional 5,044 shares in the last quarter. ORG Partners LLC raised its stake in Boston Scientific by 6,094.7% in the second quarter. ORG Partners LLC now owns 1,177 shares of the medical equipment provider's stock worth $90,000 after buying an additional 1,158 shares in the last quarter. AdvisorNet Financial Inc raised its stake in Boston Scientific by 6.3% in the second quarter. AdvisorNet Financial Inc now owns 3,786 shares of the medical equipment provider's stock worth $292,000 after buying an additional 223 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its stake in Boston Scientific by 10.2% in the second quarter. 180 Wealth Advisors LLC now owns 6,192 shares of the medical equipment provider's stock worth $476,000 after buying an additional 571 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BSX shares. Canaccord Genuity Group increased their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a research note on Monday. Evercore ISI raised their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. Bank of America lifted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Raymond James lifted their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, September 4th. Finally, Truist Financial lifted 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. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $94.00.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, the executive vice president now owns 978 shares in the company, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares in the company, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 328,157 shares of company stock valued at $27,957,676. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Performance

Shares of NYSE BSX traded up $0.34 during trading hours on Wednesday, reaching $90.54. The stock had a trading volume of 3,168,438 shares, compared to its average volume of 5,990,254. The business's fifty day moving average is $87.62 and its two-hundred day moving average is $81.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The company has a market cap of $133.44 billion, a price-to-earnings ratio of 74.77, a PEG ratio of 2.65 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $54.95 and a twelve month high of $91.93.

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

Boston Scientific Company 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.