Princeton Global Asset Management LLC Makes New $32,000 Investment in Boston Scientific Corporation $BSX

Princeton Global Asset Management LLC purchased a new position in Boston Scientific Corporation (NYSE:BSX) during the second quarter, HoldingsChannel reports. The institutional investor purchased 294 shares of the medical equipment provider’s stock, valued at approximately $32,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC boosted its stake in Boston Scientific by 90.9% in the 2nd quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 120 shares during the last quarter. 1248 Management LLC acquired a new position in shares of Boston Scientific in the 1st quarter valued at about $26,000. Y.D. More Investments Ltd acquired a new position in shares of Boston Scientific in the 1st quarter valued at about $27,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Boston Scientific in the 2nd quarter valued at about $37,000. Finally, Activest Wealth Management lifted its stake in shares of Boston Scientific by 6,216.7% in the 1st quarter. Activest Wealth Management now owns 379 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 373 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Boston Scientific stock opened at $99.88 on Wednesday. The stock’s 50 day moving average price is $101.19 and its 200 day moving average price is $101.83. The firm has a market capitalization of $148.00 billion, a PE ratio of 59.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. Boston Scientific Corporation has a one year low of $80.64 and a one year high of $109.50.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%.The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the business earned $0.62 EPS. Boston Scientific’s revenue for the quarter was up 22.8% compared to the same quarter last year. As a group, sell-side analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the sale, the executive vice president directly owned 23,600 shares in the company, valued at $2,469,268. The trade was a 42.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $98.47, for a total value of $4,923,500.00. Following the sale, the executive vice president owned 178,342 shares in the company, valued at $17,561,336.74. This represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,214 shares of company stock valued at $17,972,457 over the last 90 days. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BSX. Robert W. Baird lifted their price objective on Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Jefferies Financial Group reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Monday, July 21st. Leerink Partners lifted their price objective on Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Oppenheimer raised Boston Scientific from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $118.00 to $125.00 in a research note on Monday, September 8th. Finally, Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $121.61.

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.