Napa Wealth Management Makes New Investment in Boston Scientific Co. (NYSE:BSX)

Napa Wealth Management acquired a new stake in Boston Scientific Co. (NYSE:BSX) in the 3rd quarter, Holdings Channel reports. The firm acquired 27,392 shares of the medical equipment provider’s stock, valued at approximately $2,295,000. Boston Scientific comprises 1.1% of Napa Wealth Management’s investment portfolio, making the stock its 18th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors raised its holdings in Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after acquiring an additional 6,588,256 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Boston Scientific by 2.7% in the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after purchasing an additional 360,793 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after purchasing an additional 1,824,405 shares during the period. Canada Pension Plan Investment Board lifted its position in Boston Scientific by 15.0% in the first quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock worth $540,879,000 after purchasing an additional 1,027,543 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Boston Scientific by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,182,160 shares of the medical equipment provider’s stock worth $491,907,000 after buying an additional 878,404 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In other news, 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 transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. 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 ninety days. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.5 %

BSX stock opened at $87.40 on Monday. 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 Co. has a twelve month low of $53.93 and a twelve month high of $89.30. The company has a market cap of $128.81 billion, a P/E ratio of 71.89, a PEG ratio of 2.56 and a beta of 0.79. The business has a fifty day moving average of $85.26 and a 200-day moving average of $79.59.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data 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 firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 EPS. As a group, equities research analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Analysts Set New Price Targets

BSX has been the subject of a number of analyst reports. Mizuho raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen raised their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Morgan Stanley lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their target price on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.