Eventide Asset Management LLC Makes New $734,000 Investment in Boston Scientific Co. (NYSE:BSX)

Eventide Asset Management LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,755 shares of the medical equipment provider’s stock, valued at approximately $734,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Triad Wealth Partners LLC acquired a new position in Boston Scientific during the 2nd quarter worth $26,000. Values First Advisors Inc. acquired a new position in shares of Boston Scientific during the 3rd quarter worth about $28,000. Andra AP fonden bought a new stake in Boston Scientific during the 2nd quarter valued at approximately $29,000. Lynx Investment Advisory acquired a new stake in Boston Scientific in the 2nd quarter valued at approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Boston Scientific in the 3rd quarter worth approximately $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

NYSE:BSX opened at $90.66 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a market cap of $133.62 billion, a PE ratio of 74.93, a price-to-earnings-growth ratio of 2.67 and a beta of 0.79. Boston Scientific Co. has a 12 month low of $53.93 and a 12 month high of $91.93. The company’s 50-day moving average price is $86.70 and its two-hundred day moving average price is $80.71.

Boston Scientific (NYSE:BSX) 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 business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the previous year, the business earned $0.50 EPS. Boston Scientific’s revenue was up 19.3% compared to the same quarter last year. On average, equities analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. The trade was a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 328,157 shares of company stock valued at $27,894,270. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Evercore ISI raised their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. TD Cowen raised their price target 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. Citigroup upped their price objective on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Raymond James lifted their target price on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Mizuho upped their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.