Meyer Handelman Co. Invests $242,000 in Boston Scientific Co. (NYSE:BSX)

Meyer Handelman Co. acquired a new stake in Boston Scientific Co. (NYSE:BSX) during the 2nd quarter, HoldingsChannel reports. The firm acquired 3,146 shares of the medical equipment provider’s stock, valued at approximately $242,000.

A number of other large investors have also bought and sold shares of BSX. Eagle Bay Advisors LLC lifted its position in shares of Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares in the last quarter. First Foundation Advisors bought a new position in Boston Scientific in the 1st quarter worth about $25,000. RiverPark Advisors LLC purchased a new position in Boston Scientific during the 1st quarter valued at about $30,000. Lynx Investment Advisory purchased a new stake in shares of Boston Scientific in the second quarter worth about $30,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Boston Scientific in the 1st quarter worth approximately $31,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BSX has been the topic of several research analyst reports. Argus upped their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. TD Cowen lifted their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Mizuho increased their target price on Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Canaccord Genuity Group lifted their price target on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, BTIG Research increased their price objective on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price of $84.76.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares in the company, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Insiders sold a total of 34,960 shares of company stock valued at $2,638,984 in the last three months. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Down 0.1 %

BSX traded down $0.11 during trading on Wednesday, hitting $75.81. 246,419 shares of the company’s stock traded hands, compared to its average volume of 6,224,819. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The company’s 50 day simple moving average is $76.35 and its two-hundred day simple moving average is $71.68. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $79.43. The stock has a market capitalization of $111.22 billion, a price-to-earnings ratio of 63.80, a PEG ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the business posted $0.53 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts predict that Boston Scientific Co. will post 2.4 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.