Thrivent Financial for Lutherans Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

Thrivent Financial for Lutherans grew its position in shares of Boston Scientific Co. (NYSE:BSX) by 9.8% during the third quarter, HoldingsChannel reports. The firm owned 366,807 shares of the medical equipment provider’s stock after buying an additional 32,844 shares during the period. Thrivent Financial for Lutherans’ holdings in Boston Scientific were worth $30,740,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. RiverPark Advisors LLC raised its stake in shares of Boston Scientific by 49.1% during the third quarter. RiverPark Advisors LLC now owns 653 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 215 shares during the period. Adero Partners LLC increased its stake in shares of Boston Scientific by 3.6% in the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock worth $303,000 after buying an additional 127 shares during the last quarter. Atlanta Consulting Group Advisors LLC increased its stake in shares of Boston Scientific by 17.4% in the third quarter. Atlanta Consulting Group Advisors LLC now owns 3,757 shares of the medical equipment provider’s stock worth $315,000 after buying an additional 557 shares during the last quarter. Schear Investment Advisers LLC increased its stake in shares of Boston Scientific by 9.6% in the third quarter. Schear Investment Advisers LLC now owns 19,770 shares of the medical equipment provider’s stock worth $1,657,000 after buying an additional 1,727 shares during the last quarter. Finally, RIA Advisory Group LLC bought a new stake in shares of Boston Scientific in the third quarter worth $265,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX opened at $90.30 on Wednesday. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.08. The company has a market cap of $133.09 billion, a price-to-earnings ratio of 74.63, a price-to-earnings-growth ratio of 2.56 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The firm has a fifty day moving average of $85.56 and a 200-day moving average of $79.84.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.46 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 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 sale, the executive vice president now directly owns 34,748 shares in the company, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock valued at $26,196,718 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Canaccord Genuity Group lifted their price target on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Evercore ISI lifted their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Truist Financial boosted their target price 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 investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

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.