Kovitz Investment Group Partners LLC Buys Shares of 19,513 Boston Scientific Co. (NYSE:BSX)

Kovitz Investment Group Partners LLC purchased a new position in Boston Scientific Co. (NYSE:BSX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,513 shares of the medical equipment provider’s stock, valued at approximately $1,635,000.

Several other hedge funds have also recently made changes to their positions in BSX. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at about $26,000. Values First Advisors Inc. purchased a new position in shares of Boston Scientific during the 3rd quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Boston Scientific during the 3rd quarter valued at $30,000. Capital Performance Advisors LLP bought a new stake in shares of Boston Scientific during the 3rd quarter valued at $30,000. Finally, Andra AP fonden purchased a new stake in shares of Boston Scientific in the 2nd quarter worth $29,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Up 1.7 %

NYSE BSX opened at $90.23 on Wednesday. The stock has a market cap of $132.98 billion, a PE ratio of 74.55, a PEG ratio of 2.65 and a beta of 0.80. Boston Scientific Co. has a 12 month low of $54.86 and a 12 month high of $91.93. The company’s 50-day moving average price is $87.50 and its 200-day moving average price is $81.44. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for 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 revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. Equities research analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BSX. Royal Bank of Canada lifted their target price on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays boosted their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. TD Cowen raised their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Sanford C. Bernstein upped their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Bank of America raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.52.

Insider Buying and Selling at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction dated 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 owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 45.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares in the company, valued at approximately $2,913,967.28. This represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 328,157 shares of company stock valued at $27,957,676 in the last ninety days. Corporate 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.