Provenance Wealth Advisors LLC Acquires 11,480 Shares of Boston Scientific Corporation $BSX

Provenance Wealth Advisors LLC grew its holdings in Boston Scientific Corporation (NYSE:BSX) by 20,140.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,537 shares of the medical equipment provider’s stock after purchasing an additional 11,480 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Boston Scientific were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BSX. Avantax Planning Partners Inc. boosted its stake in shares of Boston Scientific by 4.0% during the first quarter. Avantax Planning Partners Inc. now owns 5,242 shares of the medical equipment provider’s stock valued at $329,000 after purchasing an additional 201 shares in the last quarter. WPG Advisers LLC increased its holdings in Boston Scientific by 11.9% during the first quarter. WPG Advisers LLC now owns 1,916 shares of the medical equipment provider’s stock valued at $120,000 after buying an additional 203 shares during the period. Natural Investments LLC raised its stake in Boston Scientific by 1.3% in the second quarter. Natural Investments LLC now owns 16,067 shares of the medical equipment provider’s stock worth $685,000 after buying an additional 206 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in Boston Scientific by 3.6% in the first quarter. 180 Wealth Advisors LLC now owns 6,468 shares of the medical equipment provider’s stock worth $406,000 after buying an additional 223 shares in the last quarter. Finally, MGO One Seven LLC lifted its holdings in Boston Scientific by 1.9% during the third quarter. MGO One Seven LLC now owns 14,061 shares of the medical equipment provider’s stock worth $614,000 after buying an additional 260 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 2.7%

NYSE BSX opened at $44.60 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.36 and a debt-to-equity ratio of 0.42. The firm has a market cap of $64.65 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.36 and a beta of 0.60. The company has a 50 day moving average price of $44.40 and a 200 day moving average price of $55.94. Boston Scientific Corporation has a 52 week low of $39.57 and a 52 week high of $105.65.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Boston Scientific had a net margin of 16.62% and a return on equity of 18.61%. Boston Scientific’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. As a group, sell-side analysts forecast that Boston Scientific Corporation will post 3.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on BSX. Barclays dropped their target price on Boston Scientific from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Friday, October 30th. Raymond James Financial reiterated an “outperform” rating and issued a $57.00 price target (down from $78.00) on shares of Boston Scientific in a report on Thursday, July 30th. BTIG Research reduced their price target on Boston Scientific from $56.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Truist Financial decreased their price objective on Boston Scientific from $57.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, October 14th. Finally, Mizuho set a $50.00 price objective on Boston Scientific in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.43.

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.