Boston Scientific Corporation $BSX Stock Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC raised its position in shares of Boston Scientific Corporation (NYSE:BSX) by 99.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,541 shares of the medical equipment provider’s stock after acquiring an additional 11,267 shares during the quarter. Simplicity Wealth LLC’s holdings in Boston Scientific were worth $984,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BSX. Kelleher Financial Advisors purchased a new stake in shares of Boston Scientific in the second quarter valued at about $25,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Boston Scientific in the first quarter valued at approximately $28,000. Nvwm LLC raised its stake in Boston Scientific by 526.2% in the third quarter. Nvwm LLC now owns 645 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 542 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $30,000. Finally, Kings Path Partners LLC acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In related news, Director David Habiger acquired 2,100 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was acquired at an average cost of $47.59 per share, for a total transaction of $99,939.00. Following the completion of the acquisition, the director directly owned 17,160 shares of the company’s stock, valued at approximately $816,644.40. The trade was a 13.94% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward Ludwig bought 5,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of $45.48 per share, for a total transaction of $227,400.00. Following the completion of the acquisition, the director owned 30,359 shares of the company’s stock, valued at $1,380,727.32. This trade represents a 19.72% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 194,522 shares of company stock worth $9,385,210 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Evercore decreased their price objective on Boston Scientific from $65.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $60.00 price objective (down from $75.00) on shares of Boston Scientific in a research note on Thursday, July 30th. Robert W. Baird set a $56.00 price objective on Boston Scientific in a research report on Thursday, July 30th. Canaccord Genuity Group reduced their price target on Boston Scientific from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Citigroup cut their target price on Boston Scientific from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.93.

Boston Scientific Stock Down 1.4%

NYSE:BSX opened at $44.95 on Wednesday. The business’s 50 day moving average is $45.29 and its two-hundred day moving average is $57.71. Boston Scientific Corporation has a 52 week low of $41.38 and a 52 week high of $105.65.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.38 billion. During the same period last year, the company posted $0.75 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities analysts expect that Boston Scientific Corporation will post 3.21 EPS for the current year.

Boston Scientific Company Profile

Boston Scientific Corporation is a medical technology company that develops, manufactures and markets devices used to diagnose and treat a broad range of complex medical conditions. Founded in 1979 and headquartered in Marlborough, Massachusetts, the company serves healthcare providers and patients worldwide.

Its products support minimally invasive procedures in areas including interventional cardiology, peripheral interventions, electrophysiology, endoscopy, urology and neuromodulation.