RiverPark Advisors LLC Boosts Position in Boston Scientific Co. (NYSE:BSX)

RiverPark Advisors LLC boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 49.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 653 shares of the medical equipment provider’s stock after purchasing an additional 215 shares during the quarter. RiverPark Advisors LLC’s holdings in Boston Scientific were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Capital World Investors grew its stake in shares of Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares during the period. Legal & General Group Plc grew its stake in shares of Boston Scientific by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock worth $1,072,195,000 after purchasing an additional 360,793 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after purchasing an additional 1,824,405 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Boston Scientific by 15.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock worth $540,879,000 after purchasing an additional 1,027,543 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Boston Scientific by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,182,160 shares of the medical equipment provider’s stock worth $491,907,000 after purchasing an additional 878,404 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BSX shares. Canaccord Genuity Group raised their price objective on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Stifel Nicolaus raised their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Robert W. Baird raised their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. BTIG Research lifted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada lifted their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Four 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 company. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Insider Transactions at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction 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. The trade was a 9.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 309,270 shares of company stock worth $26,196,718 in the last quarter. Company insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 0.7 %

Shares of BSX opened at $86.99 on Friday. Boston Scientific Co. has a 52-week low of $53.56 and a 52-week high of $89.30. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average is $85.26 and its two-hundred day moving average is $79.54. The stock has a market cap of $128.21 billion, a PE ratio of 71.89, a price-to-earnings-growth ratio of 2.56 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. Research analysts forecast 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.