SYSTM Wealth Solutions LLC Has $1.63 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

SYSTM Wealth Solutions LLC grew its position in Boston Scientific Co. (NYSE:BSX) by 23.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 21,136 shares of the medical equipment provider’s stock after buying an additional 4,073 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Boston Scientific were worth $1,628,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BSX. Putnam Investments LLC increased its stake in shares of Boston Scientific by 110.5% in the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after buying an additional 6,859,280 shares during the period. Capital World Investors increased its stake in shares of Boston Scientific by 236.1% in the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after buying an additional 6,617,360 shares during the period. Capital Research Global Investors acquired a new stake in shares of Boston Scientific in the 1st quarter valued at $182,897,000. Vanguard Group Inc. increased its stake in shares of Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after buying an additional 1,988,082 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of Boston Scientific by 11,484.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,705,468 shares of the medical equipment provider’s stock valued at $98,593,000 after buying an additional 1,690,746 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

BSX opened at $82.52 on Wednesday. The business’s 50-day moving average price is $78.35 and its two-hundred day moving average price is $74.39. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.11. The company has a market capitalization of $121.06 billion, a price-to-earnings ratio of 69.34, a P/E/G ratio of 2.75 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) 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%. Boston Scientific’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. Equities analysts expect that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Analyst Ratings Changes

BSX has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Argus raised their price target on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Morgan Stanley raised their price target on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price target on shares of Boston Scientific in a research report on Thursday, July 25th. Finally, Barclays raised their price target on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.38.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is owned by insiders.

Boston Scientific 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.