Guardian Wealth Advisors LLC Invests $204,000 in Boston Scientific Co. (NYSE:BSX)

Guardian Wealth Advisors LLC acquired a new position in Boston Scientific Co. (NYSE:BSX) during the third quarter, HoldingsChannel reports. The institutional investor acquired 2,434 shares of the medical equipment provider’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Triad Wealth Partners LLC purchased a new position in shares of Boston Scientific during the 2nd quarter worth approximately $26,000. Values First Advisors Inc. purchased a new stake in Boston Scientific in the third quarter worth $28,000. Andra AP fonden purchased a new position in Boston Scientific during the second quarter valued at $29,000. Lynx Investment Advisory bought a new stake in shares of Boston Scientific during the 2nd quarter valued at $30,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Boston Scientific during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 4.0 %

BSX opened at $90.45 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a one year low of $53.93 and a one year high of $91.08. The business’s 50-day simple moving average is $85.42 and its 200-day simple moving average is $79.72. The company has a market cap of $133.31 billion, a P/E ratio of 74.75, a PEG ratio of 2.56 and a beta of 0.79.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Morgan Stanley upped their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Robert W. Baird increased their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Barclays upped their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Raymond James upped their price objective on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.39.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred 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 transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 15.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 309,270 shares of company stock worth $26,196,718. Insiders own 0.50% of the company’s stock.

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.