First Horizon Advisors Inc. lifted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 24.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,223 shares of the medical equipment provider’s stock after purchasing an additional 624 shares during the period. First Horizon Advisors Inc.’s holdings in Boston Scientific were worth $140,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Samalin Investment Counsel LLC bought a new position in Boston Scientific in the second quarter worth approximately $25,000. Albion Financial Group UT bought a new position in Boston Scientific in the second quarter worth approximately $29,000. JFS Wealth Advisors LLC boosted its holdings in Boston Scientific by 1,542.2% in the third quarter. JFS Wealth Advisors LLC now owns 739 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 694 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Boston Scientific in the second quarter worth approximately $44,000. Finally, Tacita Capital Inc purchased a new stake in shares of Boston Scientific in the second quarter worth approximately $51,000. Institutional investors own 90.22% of the company’s stock.
In related news, EVP Ian T. Meredith sold 7,018 shares of Boston Scientific stock in a transaction on Tuesday, December 28th. The stock was sold at an average price of $43.21, for a total transaction of $303,247.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott Olson sold 700 shares of Boston Scientific stock in a transaction on Monday, January 3rd. The shares were sold at an average price of $42.59, for a total value of $29,813.00. The disclosure for this sale can be found here. Insiders sold 266,117 shares of company stock valued at $11,290,831 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Tuesday, October 26th. The medical equipment provider reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. Boston Scientific had a return on equity of 12.73% and a net margin of 9.45%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the company earned $0.37 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts anticipate that Boston Scientific Co. will post 1.61 earnings per share for the current year.
Several analysts have recently commented on the company. Truist Securities increased their price objective on Boston Scientific from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, December 21st. Morgan Stanley reissued a “buy” rating and issued a $53.00 price objective on shares of Boston Scientific in a research note on Tuesday, September 21st. Raymond James lowered their price objective on Boston Scientific from $53.00 to $51.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 28th. TheStreet raised Boston Scientific from a “c+” rating to a “b” rating in a research note on Thursday, January 6th. Finally, Royal Bank of Canada started coverage on Boston Scientific in a research note on Thursday, December 9th. They issued an “outperform” rating and a $51.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and an average price target of $49.72.
Boston Scientific Company Profile
Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.
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