27,392 Shares in Boston Scientific Co. (NYSE:BSX) Purchased by Napa Wealth Management

Napa Wealth Management acquired a new stake in Boston Scientific Co. (NYSE:BSX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 27,392 shares of the medical equipment provider’s stock, valued at approximately $2,295,000. Boston Scientific comprises about 1.1% of Napa Wealth Management’s investment portfolio, making the stock its 18th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kingsview Wealth Management LLC grew its stake in shares of Boston Scientific by 4.1% in the first quarter. Kingsview Wealth Management LLC now owns 5,570 shares of the medical equipment provider’s stock worth $381,000 after purchasing an additional 219 shares in the last quarter. Blair William & Co. IL increased its stake in Boston Scientific by 9.3% during the 1st quarter. Blair William & Co. IL now owns 18,312 shares of the medical equipment provider’s stock valued at $1,254,000 after buying an additional 1,560 shares during the period. Acadian Asset Management LLC raised its position in shares of Boston Scientific by 89.0% during the 1st quarter. Acadian Asset Management LLC now owns 93,258 shares of the medical equipment provider’s stock worth $6,383,000 after buying an additional 43,916 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Boston Scientific in the 1st quarter worth approximately $366,000. Finally, Covestor Ltd boosted its holdings in shares of Boston Scientific by 99.2% in the first quarter. Covestor Ltd now owns 1,227 shares of the medical equipment provider’s stock valued at $84,000 after acquiring an additional 611 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on BSX shares. Morgan Stanley boosted their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Citigroup boosted their price objective on Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Barclays raised their target price on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group upped their price target on shares of Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 16.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. This represents a 45.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 309,270 shares of company stock worth $26,196,718. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 0.5 %

Shares of Boston Scientific stock opened at $87.40 on Monday. The stock has a 50-day simple moving average of $85.26 and a 200-day simple moving average of $79.59. Boston Scientific Co. has a 52-week low of $53.93 and a 52-week high of $89.30. The firm has a market cap of $128.81 billion, a price-to-earnings ratio of 71.89, a P/E/G ratio of 2.56 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

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.