Cypress Asset Management Inc. TX Invests $205,000 in Boston Scientific Co. (NYSE:BSX)

Cypress Asset Management Inc. TX bought a new position in Boston Scientific Co. (NYSE:BSX) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,000 shares of the medical equipment provider’s stock, valued at approximately $205,000.

A number of other large investors have also bought and sold shares of BSX. First Foundation Advisors bought a new position in shares of Boston Scientific in the first quarter valued at about $25,000. Eagle Bay Advisors LLC lifted its position in shares of Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. RiverPark Advisors LLC acquired a new position in shares of Boston Scientific during the first quarter worth approximately $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific during the first quarter valued at approximately $31,000. Finally, YHB Investment Advisors Inc. bought a new position in Boston Scientific in the 1st quarter worth approximately $32,000. 89.07% of the stock is currently owned by institutional investors.

Insider Transactions at Boston Scientific

In related news, Director Charles J. Dockendorff sold 3,946 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total value of $286,874.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $74.14, for a total value of $958,704.34. Following the transaction, the executive vice president now owns 31,422 shares of the company’s stock, valued at $2,329,627.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The disclosure for this sale can be found here. In the last three months, insiders sold 51,837 shares of company stock worth $3,884,563. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BSX shares. Argus lifted their target price on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. UBS Group upped their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. TD Cowen lifted their price target on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Evercore ISI increased their price objective on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Finally, Needham & Company LLC lifted their target price on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.76.

Boston Scientific Stock Down 0.9 %

Shares of NYSE:BSX traded down $0.66 during midday trading on Friday, reaching $74.50. The company had a trading volume of 5,500,518 shares, compared to its average volume of 6,960,298. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $79.43. The stock has a market cap of $109.30 billion, a PE ratio of 62.61, a P/E/G ratio of 2.49 and a beta of 0.78. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average price is $76.42 and its 200 day moving average price is $70.84.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. Research analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

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.