Boston Scientific Co. (NYSE:BSX) Shares Bought by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 6.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,030 shares of the medical equipment provider’s stock after acquiring an additional 9,018 shares during the period. Boston Scientific makes up approximately 2.8% of Sierra Summit Advisors LLC’s investment portfolio, making the stock its 8th largest position. Sierra Summit Advisors LLC’s holdings in Boston Scientific were worth $11,323,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eagle Bay Advisors LLC lifted its position in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares during the period. First Foundation Advisors acquired a new position in Boston Scientific in the first quarter valued at about $25,000. Triad Wealth Partners LLC bought a new stake in Boston Scientific during the second quarter worth about $26,000. Andra AP fonden acquired a new stake in Boston Scientific during the second quarter worth about $29,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Boston Scientific in the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BSX. Morgan Stanley increased their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Boston Scientific in a research note on Thursday, July 25th. Truist Financial boosted their target price on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, BTIG Research raised their price target on shares of Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is currently owned by insiders.

Boston Scientific Price Performance

Shares of BSX opened at $83.31 on Monday. The business has a 50-day moving average of $78.08 and a 200-day moving average of $74.16. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.11. The company has a market capitalization of $122.68 billion, a price-to-earnings ratio of 70.01, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company earned $0.53 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current year.

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.