Mount Yale Investment Advisors Increases Stake in Boston Scientific Co.

Mount Yale Investment Advisors LLC has increased its investment in Boston Scientific Co. (NYSE:BSX) by 7.4% during the third quarter, as revealed in their latest filing with the Securities and Exchange Commission (SEC). Following this increase, Mount Yale now holds 16,794 shares of the medical equipment manufacturer's stock after acquiring an additional 1,159 shares over the quarter. The value of Mount Yale's holdings in Boston Scientific has reached approximately $1,407,000 based on their most recent SEC disclosure.

A number of other hedge funds have also re-evaluated their positions in Boston Scientific recently. For instance, BI Asset Management Fondsmaeglerselskab A S raised its stake significantly by 225.6% in the first quarter, amassing a total of 105,671 shares valued at around $7,237,000 after purchasing an extra 73,219 shares. Other notable investments include BDF Gestion, which acquired a new position worth approximately $3,570,000 during the second quarter, and LRI Investments LLC, which took a new position valued at around $139,000 in the same quarter. Cetera Advisor Networks LLC also increased its holdings by 11.8% during the first quarter, bringing its total to 201,426 shares worth about $13,796,000 after purchasing an additional 21,252 shares. Additionally, Brookstone Capital Management raised its stake by 389.1% in the second quarter, now owning 69,945 shares valued at approximately $5,414,000. Notably, institutional investors currently own 89.07% of Boston Scientific's stock.

Analyst Upgrades and Price Targets

Various equity research analysts have recently provided updates concerning Boston Scientific shares. Mizuho increased their target price for Boston Scientific from $100.00 to $110.00 and assigned the stock an “outperform” rating. Meanwhile, TD Cowen also raised their price objective from $86.00 to $100.00, giving it a “buy” rating. In another report, JPMorgan Chase & Co. lifted their price objective from $82.00 to $85.00, maintaining an “overweight” rating for the stock. StockNews.com upgraded Boston Scientific from a “hold” to a “buy” rating in their analysis. Additionally, Raymond James revised its price target from $91.00 to $94.00, also rating the shares as a “strong buy”. Out of all ratings, three analysts issued a hold rating, twenty have given a buy rating, while one has assigned a strong buy rating. According to MarketBeat.com, the consensus rating for Boston Scientific is currently “Moderate Buy” with an average target price set at $93.39.

Insider Activity

In transactions involving company insiders, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock on October 7th. The shares were sold at an average price of $85.00, making the transaction valued at $11,264,795. Following the sale, Fitzgerald now directly holds 160,467 shares, valued at approximately $13,639,695. Similar activity was noted with CEO Michael F. Mahoney, who sold 162,777 shares on the same day at an average price of $84.63, totaling around $13,775,817.51 in value. After this sale, Mahoney retains 1,572,096 shares of the company, which are valued at about $133,046,484. This also resulted in a decrease of 0.00% in his ownership of the stock. In the past quarter, insiders have sold a total of 316,253 shares worth approximately $26,714,298. Currently, company insiders own about 0.50% of Boston Scientific's total shares.

Boston Scientific's Stock Performance

As of Friday, shares of Boston Scientific (NYSE:BSX) opened at $84.73, with the company's market capitalization at $124.31 billion. The stock has a P/E ratio of 71.20, a PEG ratio of 2.87, and a beta of 0.80. Financial ratios reveal a debt-to-equity ratio of 0.44, a current ratio of 1.61, and a quick ratio of 1.14. Over the past year, Boston Scientific's stock hit a low of $49.15 and a high of $88.79, while the firm's 50-day simple moving average stands at $83.34, and the 200-day simple moving average is at $77.62.

Boston Scientific recently reported their earnings on October 23rd, revealing an earnings per share (EPS) of $0.63, exceeding analysts’ expectations of $0.59 by $0.04. The company reported a net margin of 12.00% and a return on equity of 16.59%. Revenue stood at $4.21 billion for the quarter, surpassing analysts’ estimates of $4.04 billion, illustrating a 19.3% increase from the same quarter last year. Looking ahead, analysts expect Boston Scientific Corp. to post an EPS of 2.4 for the current fiscal year.

About Boston Scientific

Boston Scientific Corporation is involved in the development, manufacturing, and marketing of medical devices across various interventional medical fields globally. The company operates in two primary segments: MedSurg and Cardiovascular. They provide devices for the diagnosis and treatment of gastrointestinal and pulmonary conditions, and also cater to urological and neurological conditions, through a range of products designed to manage complex health issues effectively.

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