Pier 88 Investment Partners LLC Has $1.19 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

Pier 88 Investment Partners LLC lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 65.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,200 shares of the medical equipment provider’s stock after selling 26,800 shares during the period. Pier 88 Investment Partners LLC’s holdings in Boston Scientific were worth $1,190,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of BSX. Triad Wealth Partners LLC acquired a new stake in Boston Scientific during the 2nd quarter valued at approximately $26,000. Values First Advisors Inc. bought a new stake in Boston Scientific during the third quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Boston Scientific during the 3rd quarter worth about $30,000. Capital Performance Advisors LLP bought a new position in shares of Boston Scientific in the 3rd quarter worth about $30,000. Finally, First Foundation Advisors acquired a new position in shares of Boston Scientific in the 1st quarter valued at about $25,000. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Canaccord Genuity Group raised their price target on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. BTIG Research increased their price target on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Robert W. Baird upped their target price on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Cowen upped their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.39.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’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 sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock worth $26,196,718 over the last ninety days. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Boston Scientific stock opened at $88.77 on Thursday. The business has a 50-day simple moving average of $84.89 and a 200 day simple moving average of $79.26. Boston Scientific Co. has a 52 week low of $53.56 and a 52 week high of $89.30. The stock has a market cap of $130.83 billion, a price-to-earnings ratio of 73.36, a PEG ratio of 2.61 and a beta of 0.79. The company has a quick ratio of 1.02, a current ratio of 1.48 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 for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the company posted $0.50 EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. On average, research analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal 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.