Americana Partners LLC Purchases New Position in Boston Scientific Corporation $BSX

Americana Partners LLC bought a new position in Boston Scientific Corporation (NYSE:BSX) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 7,079 shares of the medical equipment provider’s stock, valued at approximately $691,000.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Boston Scientific by 1.9% during the second quarter. Vanguard Group Inc. now owns 137,134,110 shares of the medical equipment provider’s stock valued at $14,729,575,000 after purchasing an additional 2,545,381 shares during the last quarter. State Street Corp raised its holdings in Boston Scientific by 1.1% in the second quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock worth $7,002,258,000 after buying an additional 713,379 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Boston Scientific by 2.0% in the second quarter. Geode Capital Management LLC now owns 32,424,982 shares of the medical equipment provider’s stock worth $3,466,320,000 after buying an additional 622,602 shares in the last quarter. Norges Bank purchased a new stake in shares of Boston Scientific during the second quarter valued at approximately $2,089,937,000. Finally, Invesco Ltd. increased its position in shares of Boston Scientific by 1.4% during the second quarter. Invesco Ltd. now owns 16,851,518 shares of the medical equipment provider’s stock valued at $1,810,022,000 after acquiring an additional 226,578 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Up 0.6%

Shares of BSX opened at $91.74 on Thursday. The stock has a market capitalization of $136.00 billion, a PE ratio of 49.06, a P/E/G ratio of 1.61 and a beta of 0.67. The company’s fifty day moving average is $96.17 and its 200 day moving average is $100.01. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51. Boston Scientific Corporation has a fifty-two week low of $85.98 and a fifty-two week high of $109.50.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. Boston Scientific had a net margin of 14.43% and a return on equity of 19.46%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same quarter last year, the business earned $0.63 earnings per share. Boston Scientific’s quarterly revenue was up 20.3% compared to the same quarter last year. Sell-side analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BSX shares. Evercore ISI set a $112.00 target price on shares of Boston Scientific in a report on Monday, January 5th. Truist Financial decreased their price target on shares of Boston Scientific from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Leerink Partners boosted their price objective on shares of Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Morgan Stanley raised their target price on Boston Scientific from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, Barclays upped their price objective on Boston Scientific from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.89.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $101.55, for a total value of $1,758,135.15. Following the sale, the executive vice president owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. This represents a 42.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the transaction, the executive vice president directly owned 178,342 shares of the company’s stock, valued at approximately $17,739,678.74. This represents a 21.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 93,095 shares of company stock worth $9,305,450 over the last quarter. Insiders own 0.50% of the company’s stock.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.