Harbour Investments Inc. Buys 291 Shares of Boston Scientific Co. (NYSE:BSX)

Harbour Investments Inc. lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 11.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,817 shares of the medical equipment provider’s stock after purchasing an additional 291 shares during the quarter. Harbour Investments Inc.’s holdings in Boston Scientific were worth $236,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new position in Boston Scientific during the 2nd quarter worth $26,000. Values First Advisors Inc. bought a new position in shares of Boston Scientific during the third quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Boston Scientific in the third quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new stake in Boston Scientific during the 3rd quarter valued at approximately $30,000. Finally, Andra AP fonden bought a new position in Boston Scientific during the 2nd quarter worth approximately $29,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $86.99 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $128.21 billion, a PE ratio of 71.89, a price-to-earnings-growth ratio of 2.56 and a beta of 0.79. The stock’s fifty day simple moving average is $85.26 and its two-hundred day simple moving average is $79.59. Boston Scientific Co. has a 1-year low of $53.56 and a 1-year high of $89.30.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share. As a group, analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Activity

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This represents a 45.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock valued at $26,196,718 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Bank of America upped their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. 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. Wells Fargo & Company boosted their price objective on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley boosted their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.39.

About Boston Scientific

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.