Summit Investment Advisory Services LLC Invests $212,000 in Boston Scientific Co. (NYSE:BSX)

Summit Investment Advisory Services LLC purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,532 shares of the medical equipment provider’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BSX. BI Asset Management Fondsmaeglerselskab A S grew its stake in Boston Scientific by 225.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock valued at $7,237,000 after purchasing an additional 73,219 shares during the period. BDF Gestion purchased a new stake in Boston Scientific during the second quarter worth about $3,570,000. Tlwm bought a new stake in Boston Scientific in the first quarter worth about $927,000. LRI Investments LLC purchased a new position in Boston Scientific in the first quarter valued at about $139,000. Finally, Cetera Advisor Networks LLC grew its position in shares of Boston Scientific by 11.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after acquiring an additional 21,252 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

Shares of NYSE:BSX traded up $0.03 during trading on Thursday, reaching $87.03. The company had a trading volume of 744,661 shares, compared to its average volume of 5,935,657. Boston Scientific Co. has a 12 month low of $49.15 and a 12 month high of $88.09. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $127.68 billion, a P/E ratio of 73.12, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The company has a fifty day moving average of $82.03 and a two-hundred day moving average of $76.89.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. Equities research analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BSX shares. TD Cowen increased their price objective on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Needham & Company LLC lifted their price objective on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada upped their price objective on shares of Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Canaccord Genuity Group lifted their target price on shares of Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Barclays upped their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.55.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was 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 owns 160,467 shares in the company, valued at $13,639,695. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock worth $26,714,298 over the last ninety days. Insiders own 0.50% of the company’s stock.

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.