Thurston Springer Miller Herd & Titak Inc. Increases Stake in Boston Scientific Co. (NYSE:BSX)

Thurston Springer Miller Herd & Titak Inc. lifted its stake in Boston Scientific Co. (NYSE:BSX) by 32.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,786 shares of the medical equipment provider’s stock after buying an additional 927 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Boston Scientific were worth $317,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Eagle Bay Advisors LLC raised its holdings 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 worth $25,000 after acquiring an additional 309 shares in the last quarter. First Foundation Advisors purchased a new position in shares of Boston Scientific in the 1st quarter worth $25,000. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific in the 2nd quarter worth about $26,000. Andra AP fonden purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at about $29,000. Finally, RiverPark Advisors LLC bought a new position in shares of Boston Scientific in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

BSX stock opened at $87.55 on Tuesday. Boston Scientific Co. has a one year low of $49.15 and a one year high of $87.79. The firm has a market cap of $128.44 billion, a price-to-earnings ratio of 73.57, a PEG ratio of 2.87 and a beta of 0.80. 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 firm has a 50-day simple moving average of $81.50 and a two-hundred day simple moving average of $76.69.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. Boston Scientific’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. On average, equities analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 316,253 shares of company stock worth $26,714,298. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird boosted their target price on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Truist Financial increased their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley boosted their price objective on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Needham & Company LLC lifted their target price on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.55.

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.