Oak Harvest Investment Services Boosts Stock Position in Boston Scientific Co. (NYSE:BSX)

Oak Harvest Investment Services increased its stake in Boston Scientific Co. (NYSE:BSX) by 60.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,250 shares of the medical equipment provider’s stock after purchasing an additional 4,250 shares during the quarter. Oak Harvest Investment Services’ holdings in Boston Scientific were worth $943,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Trust Direct Indexing L.P. boosted its holdings in Boston Scientific by 18.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 54,308 shares of the medical equipment provider’s stock valued at $4,551,000 after purchasing an additional 8,518 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Boston Scientific by 9.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after acquiring an additional 119 shares during the last quarter. Golden State Equity Partners increased its position in shares of Boston Scientific by 1.4% in the third quarter. Golden State Equity Partners now owns 10,614 shares of the medical equipment provider’s stock worth $889,000 after purchasing an additional 151 shares during the last quarter. Adams Diversified Equity Fund Inc. bought a new stake in Boston Scientific during the third quarter valued at approximately $17,908,000. Finally, Highview Capital Management LLC DE grew its stake in Boston Scientific by 17.2% in the 3rd quarter. Highview Capital Management LLC DE now owns 23,068 shares of the medical equipment provider’s stock worth $1,933,000 after buying an additional 3,388 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific 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 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were 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 $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by insiders.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $84.02 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The company has a 50 day simple moving average of $83.82 and a two-hundred day simple moving average of $78.13. Boston Scientific Co. has a fifty-two week low of $50.26 and a fifty-two week high of $88.79. The company has a market capitalization of $123.27 billion, a price-to-earnings ratio of 70.61, a P/E/G ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. Analysts expect that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Truist Financial increased their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Morgan Stanley raised their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. TD Cowen upped their target price on 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 lifted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company increased their target price 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. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $93.39.

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.