Focus Financial Network Inc. Increases Position in Boston Scientific Co. (NYSE:BSX)

Focus Financial Network Inc. boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,506 shares of the medical equipment provider’s stock after purchasing an additional 420 shares during the quarter. Focus Financial Network Inc.’s holdings in Boston Scientific were worth $1,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC boosted its stake in Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares in the last quarter. First Foundation Advisors purchased a new stake in shares of Boston Scientific during the 1st quarter valued at $25,000. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific in the 2nd quarter worth $26,000. Values First Advisors Inc. purchased a new position in Boston Scientific during the 3rd quarter worth $28,000. Finally, Andra AP fonden acquired a new position in Boston Scientific during the 2nd quarter valued at about $29,000. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction 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 approximately $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated 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 sale, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock worth $26,196,718 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BSX. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Thursday. Stifel Nicolaus upped their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Sanford C. Bernstein raised their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group boosted their price objective 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. Finally, Wells Fargo & Company lifted their price target on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Stock Down 0.5 %

BSX stock opened at $83.62 on Friday. The firm’s fifty day moving average is $84.00 and its 200 day moving average is $78.29. The firm has a market cap of $123.14 billion, a PE ratio of 69.11, a P/E/G ratio of 2.47 and a beta of 0.80. Boston Scientific Co. has a one year low of $50.84 and a one year high of $88.79. 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) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.41% and a net margin of 11.26%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the firm earned $0.50 EPS. On average, research analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current 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.