Traynor Capital Management Inc. Buys Shares of 24,724 Boston Scientific Corporation $BSX

Traynor Capital Management Inc. acquired a new stake in Boston Scientific Corporation (NYSE:BSX) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 24,724 shares of the medical equipment provider’s stock, valued at approximately $2,414,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Boston Scientific by 1.9% during the second quarter. Vanguard Group Inc. now owns 137,134,110 shares of the medical equipment provider’s stock valued at $14,729,575,000 after buying an additional 2,545,381 shares in the last quarter. State Street Corp grew its stake in shares of Boston Scientific by 1.1% in the second quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock worth $7,002,258,000 after acquiring an additional 713,379 shares during the last quarter. Geode Capital Management LLC boosted its stake in Boston Scientific by 2.0% during the second quarter. Geode Capital Management LLC now owns 32,424,982 shares of the medical equipment provider’s stock worth $3,466,320,000 after buying an additional 622,602 shares in the last quarter. Norges Bank bought a new stake in Boston Scientific in the second quarter valued at about $2,089,937,000. Finally, Invesco Ltd. raised its holdings in shares of Boston Scientific by 1.4% in the 2nd quarter. Invesco Ltd. now owns 16,851,518 shares of the medical equipment provider’s stock worth $1,810,022,000 after buying an additional 226,578 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares in the company, valued at approximately $17,739,678.74. This trade represents a 21.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the completion of the transaction, the executive vice president owned 23,600 shares in the company, valued at approximately $2,396,580. This trade represents a 42.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 80,204 shares of company stock worth $7,998,563. 0.50% of the stock is owned by company insiders.

Boston Scientific Trading Up 0.1%

NYSE BSX opened at $93.74 on Thursday. The stock has a 50 day moving average of $95.36 and a 200-day moving average of $99.65. Boston Scientific Corporation has a 12 month low of $85.98 and a 12 month high of $109.50. The company has a market cap of $138.96 billion, a PE ratio of 50.13, a PEG ratio of 1.66 and a beta of 0.67. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BSX. Barclays lifted their price target on shares of Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Erste Group Bank lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Robert W. Baird upped their target price on shares of Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Wells Fargo & Company increased their price target on shares of Boston Scientific from $124.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Finally, Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.89.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.