Boston Scientific Co. (NYSE:BSX) Shares Bought by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV raised its position in Boston Scientific Co. (NYSE:BSX) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,351 shares of the medical equipment provider’s stock after buying an additional 485 shares during the period. Boston Scientific makes up about 2.7% of Tandem Capital Management Corp ADV’s holdings, making the stock its 7th biggest holding. Tandem Capital Management Corp ADV’s holdings in Boston Scientific were worth $4,890,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Boston Scientific by 225.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock valued at $7,237,000 after buying an additional 73,219 shares during the last quarter. BDF Gestion acquired a new position in Boston Scientific during the 2nd quarter worth $3,570,000. LRI Investments LLC bought a new stake in shares of Boston Scientific in the 1st quarter worth about $139,000. Cetera Advisor Networks LLC raised its stake in shares of Boston Scientific by 11.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after purchasing an additional 21,252 shares in the last quarter. Finally, Brookstone Capital Management lifted its position in shares of Boston Scientific by 389.1% during the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after purchasing an additional 55,645 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 316,253 shares of company stock worth $26,714,298 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Raymond James upped their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Evercore ISI raised their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup raised their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays boosted their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

Boston Scientific stock traded down $1.35 during mid-day trading on Friday, hitting $83.75. The company’s stock had a trading volume of 657,858 shares, compared to its average volume of 6,019,053. The stock has a market capitalization of $122.87 billion, a P/E ratio of 71.52, a P/E/G ratio of 2.87 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $49.15 and a twelve month high of $88.79. The stock’s fifty day moving average price is $83.19 and its two-hundred day moving average price is $77.57. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the previous year, the company earned $0.50 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Research analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Boston Scientific Company 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.