Empirical Finance LLC Grows Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Empirical Finance LLC boosted its holdings in Boston Scientific Co. (NYSE:BSX) by 2.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 49,639 shares of the medical equipment provider’s stock after buying an additional 1,254 shares during the period. Empirical Finance LLC’s holdings in Boston Scientific were worth $4,160,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BSX. CRA Financial Services LLC lifted its holdings in Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Boston Scientific by 9.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 119 shares during the last quarter. Ashton Thomas Securities LLC boosted its stake in Boston Scientific by 1.3% during the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after buying an additional 129 shares during the last quarter. CVA Family Office LLC increased its stake in Boston Scientific by 7.4% in the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after acquiring an additional 131 shares during the last quarter. Finally, Jacobsen Capital Management boosted its position in shares of Boston Scientific by 4.9% during the 3rd quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock valued at $236,000 after acquiring an additional 133 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total value 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 $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 309,270 shares of company stock valued at $26,196,718 in the last 90 days. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX opened at $87.44 on Friday. The stock has a market capitalization of $128.87 billion, a PE ratio of 72.39, a PEG ratio of 2.61 and a beta of 0.79. The company has a 50 day moving average price of $85.03 and a 200-day moving average price of $79.33. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a fifty-two week low of $53.56 and a fifty-two week high of $89.30.

Boston Scientific (NYSE:BSX) last released 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 firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on BSX. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. BTIG Research increased their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company upped their price objective on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Royal Bank of Canada lifted their target price on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price target on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.39.

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.