Cypress Wealth Services LLC Invests $219,000 in Boston Scientific Co. (NYSE:BSX)

by · The Cerbat Gem

Cypress Wealth Services LLC acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,618 shares of the medical equipment provider’s stock, valued at approximately $219,000.

Other hedge funds also recently made changes to their positions in the company. High Note Wealth LLC boosted its holdings in shares of Boston Scientific by 11.0% in the 3rd quarter. High Note Wealth LLC now owns 12,484 shares of the medical equipment provider’s stock worth $1,046,000 after purchasing an additional 1,242 shares in the last quarter. Wedmont Private Capital lifted its position in Boston Scientific by 9.2% in the 3rd quarter. Wedmont Private Capital now owns 18,730 shares of the medical equipment provider’s stock worth $1,581,000 after buying an additional 1,574 shares during the last quarter. Daymark Wealth Partners LLC purchased a new stake in Boston Scientific in the third quarter worth approximately $281,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Boston Scientific during the third quarter valued at approximately $326,000. Finally, Brookstone Capital Management raised its stake in shares of Boston Scientific by 22.3% during the third quarter. Brookstone Capital Management now owns 85,553 shares of the medical equipment provider’s stock worth $7,169,000 after acquiring an additional 15,608 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on BSX shares. 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 report on Thursday, July 25th. Raymond James boosted their target price on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Needham & Company LLC boosted their price objective on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, TD Cowen raised their target price on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $87.60.

Get Our Latest Stock Report on Boston Scientific

Boston Scientific Stock Down 0.6 %

BSX stock opened at $86.17 on Friday. The business’s 50-day moving average is $80.74 and its two-hundred day moving average is $76.23. The company has a market cap of $126.42 billion, a price-to-earnings ratio of 72.41, a P/E/G ratio of 2.78 and a beta of 0.80. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $86.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61.

Boston Scientific (NYSE:BSX – Get Free Report) last announced 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 business 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%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 earnings per share. As a group, analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at $3,061,135.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is owned by company insiders.

Boston Scientific Company Profile

(Free Report)

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.

Further Reading

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