Great Lakes Retirement Inc. Raises Stock Position in Boston Scientific Co. (NYSE:BSX)

Great Lakes Retirement Inc. lifted its position in Boston Scientific Co. (NYSE:BSX) by 40.0% in the third quarter, Holdings Channel reports. The firm owned 23,319 shares of the medical equipment provider’s stock after buying an additional 6,667 shares during the period. Great Lakes Retirement Inc.’s holdings in Boston Scientific were worth $1,954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BSX. CRA Financial Services LLC grew its stake in shares of Boston Scientific by 4.3% during the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 117 shares during the period. CVA Family Office LLC grew its position in Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after buying an additional 131 shares during the period. International Assets Investment Management LLC increased its holdings in Boston Scientific by 0.6% in the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after buying an additional 139 shares in the last quarter. ST Germain D J Co. Inc. raised its position in shares of Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after acquiring an additional 143 shares during the period. Finally, Transcend Capital Advisors LLC boosted its stake in shares of Boston Scientific by 2.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after acquiring an additional 148 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Needham & Company LLC cut Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Friday, October 18th. Raymond James lifted their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Citigroup boosted their target price on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Truist Financial raised their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.68.

Boston Scientific Stock Performance

NYSE BSX opened at $87.45 on Thursday. The stock has a fifty day simple moving average of $83.19 and a 200-day simple moving average of $77.57. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The stock has a market cap of $128.30 billion, a PE ratio of 73.49, a P/E/G ratio of 2.87 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $49.15 and a twelve month high of $88.79.

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

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Boston Scientific news, 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 transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 316,253 shares of company stock valued at $26,714,298. Company insiders own 0.50% of the company’s stock.

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.