Avestar Capital LLC Increases Stock Position in Boston Scientific Co. (NYSE:BSX)

Avestar Capital LLC boosted its position in Boston Scientific Co. (NYSE:BSX) by 10.3% during the third quarter, Holdings Channel.com reports. The fund owned 12,397 shares of the medical equipment provider’s stock after acquiring an additional 1,158 shares during the period. Avestar Capital LLC’s holdings in Boston Scientific were worth $1,039,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific in the second quarter worth about $26,000. Values First Advisors Inc. bought a new stake in shares of Boston Scientific in the 3rd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific during the third quarter valued at approximately $30,000. Capital Performance Advisors LLP bought a new position in shares of Boston Scientific during the third quarter valued at approximately $30,000. Finally, Andra AP fonden purchased a new stake in Boston Scientific in the second quarter worth $29,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 1.1 %

BSX stock opened at $90.19 on Wednesday. The stock has a market capitalization of $132.92 billion, a P/E ratio of 74.54, a P/E/G ratio of 2.65 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 Co. has a 1-year low of $53.93 and a 1-year high of $91.93. The business has a fifty day moving average price of $86.26 and a 200-day moving average price of $80.44.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 EPS. Equities analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on BSX shares. Mizuho boosted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research report on Monday, November 18th. Royal Bank of Canada increased their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company lifted their price objective on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Raymond James raised 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. Four research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $93.39.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction 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 completion of 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 15.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the 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 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. In the last ninety days, insiders sold 328,157 shares of company stock worth $27,894,270. 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.