Boston Scientific Corporation (NYSE:BSX) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers increased its position in shares of Boston Scientific Corporation (NYSE:BSX) by 4.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 334,733 shares of the medical equipment provider’s stock after acquiring an additional 15,572 shares during the quarter. Cetera Investment Advisers’ holdings in Boston Scientific were worth $33,768,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Avantax Advisory Services Inc. increased its position in shares of Boston Scientific by 17.0% during the first quarter. Avantax Advisory Services Inc. now owns 42,616 shares of the medical equipment provider’s stock valued at $4,299,000 after acquiring an additional 6,200 shares during the last quarter. Lifeworks Advisors LLC increased its position in shares of Boston Scientific by 25.0% during the first quarter. Lifeworks Advisors LLC now owns 7,536 shares of the medical equipment provider’s stock valued at $760,000 after acquiring an additional 1,509 shares during the last quarter. Journey Strategic Wealth LLC increased its position in shares of Boston Scientific by 11.0% during the first quarter. Journey Strategic Wealth LLC now owns 3,277 shares of the medical equipment provider’s stock valued at $331,000 after acquiring an additional 326 shares during the last quarter. Advisor OS LLC increased its position in shares of Boston Scientific by 17.3% during the first quarter. Advisor OS LLC now owns 3,300 shares of the medical equipment provider’s stock valued at $333,000 after acquiring an additional 486 shares during the last quarter. Finally, Machina Capital S.A.S. acquired a new stake in shares of Boston Scientific during the first quarter valued at about $2,945,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Leerink Partners started coverage on shares of Boston Scientific in a research report on Monday, June 16th. They set an “outperform” rating and a $118.00 price target for the company. Leerink Partnrs upgraded shares of Boston Scientific to a “strong-buy” rating in a report on Monday, June 16th. Morgan Stanley lifted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Finally, Citigroup restated a “buy” rating and issued a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $117.50.

Boston Scientific Stock Down 0.1%

Shares of Boston Scientific stock opened at $106.07 on Friday. Boston Scientific Corporation has a 52-week low of $71.88 and a 52-week high of $108.94. The company has a 50 day moving average of $103.58 and a 200 day moving average of $101.55. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $156.92 billion, a P/E ratio of 63.14, a P/E/G ratio of 2.67 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. As a group, research analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In other news, CEO Michael F. Mahoney sold 164,443 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the completion of the sale, the chief executive officer owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. The trade was a 10.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the sale, the executive vice president owned 22,235 shares of the company’s stock, valued at $2,269,304.10. This represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 457,144 shares of company stock worth $47,296,288 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Profile

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.