Verdence Capital Advisors LLC Grows Stake in Boston Scientific Corporation $BSX

Verdence Capital Advisors LLC raised its holdings in Boston Scientific Corporation (NYSE:BSX) by 386.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 16,578 shares of the medical equipment provider’s stock after buying an additional 13,167 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Boston Scientific were worth $1,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BSX. Steph & Co. bought a new stake in Boston Scientific in the third quarter valued at $25,000. Financial Consulate Inc. purchased a new stake in shares of Boston Scientific in the 3rd quarter worth about $25,000. FWL Investment Management LLC bought a new stake in shares of Boston Scientific during the 2nd quarter valued at about $26,000. Sound Income Strategies LLC boosted its stake in shares of Boston Scientific by 90.9% during the 2nd quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 120 shares in the last quarter. Finally, Kilter Group LLC purchased a new position in shares of Boston Scientific during the second quarter valued at about $30,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Boston Scientific in a report on Wednesday, October 8th. Oppenheimer decreased their target price on Boston Scientific from $125.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 16th. Barclays raised their target price on Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Wells Fargo & Company lifted their price target on Boston Scientific from $124.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Finally, Robert W. Baird increased their price objective on Boston Scientific from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $123.89.

Boston Scientific Stock Performance

Shares of BSX opened at $91.16 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.47. The stock has a market cap of $135.14 billion, a P/E ratio of 48.75, a P/E/G ratio of 1.56 and a beta of 0.67. The business’s 50 day moving average price is $96.42 and its 200-day moving average price is $100.06. Boston Scientific Corporation has a 52 week low of $85.98 and a 52 week high of $109.50.

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

Insider Transactions at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the completion of the transaction, the executive vice president directly owned 23,600 shares in the company, valued at $2,396,580. This trade represents a 42.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company’s 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 completion of the transaction, the executive vice president owned 178,342 shares in the company, valued at approximately $17,739,678.74. The trade was a 21.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 93,095 shares of company stock valued at $9,305,450. Insiders own 0.50% of the company’s stock.

About Boston Scientific

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.