Private Advisory Group LLC Takes Position in Boston Scientific Corporation (NYSE:BSX)

Key Points

• Private Advisory Group LLC acquired a new stake in Boston Scientific Corporation, purchasing 3,746 shares valued at approximately $378,000 during the first quarter.
• Multiple institutional investors increased their stakes in Boston Scientific, with Capital World Investors raising its holdings by 28.7% in the fourth quarter, now owning nearly 28 million shares worth about $2.49 billion.
• Wall Street analysts have a generally positive outlook, with an average buy rating and a price target of $117.50 for Boston Scientific shares, following the company's strong earnings performance last quarter.

Private Advisory Group LLC acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,746 shares of the medical equipment provider's stock, valued at approximately $378,000.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Boston Scientific by 0.8% in the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after purchasing an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Boston Scientific by 40.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after purchasing an additional 21,173 shares in the last quarter. Highview Capital Management LLC DE increased its holdings in shares of Boston Scientific by 6.2% in the 4th quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock valued at $2,189,000 after purchasing an additional 1,439 shares in the last quarter. Nemes Rush Group LLC increased its holdings in shares of Boston Scientific by 312.3% in the 4th quarter. Nemes Rush Group LLC now owns 635 shares of the medical equipment provider's stock valued at $57,000 after purchasing an additional 481 shares in the last quarter. Finally, Nicolet Advisory Services LLC purchased a new position in shares of Boston Scientific in the 4th quarter valued at about $223,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Up 0.5%

Shares of BSX traded up $0.48 during mid-day trading on Friday, reaching $105.40. 6,338,985 shares of the stock traded hands, compared to its average volume of 7,453,291. The firm has a market cap of $155.93 billion, a price-to-earnings ratio of 62.74, a P/E/G ratio of 2.54 and a beta of 0.66. The stock has a fifty day simple moving average of $103.63 and a 200 day simple moving average of $101.87. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $108.94. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.03. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The business's quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. Sell-side analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total value of $17,051,094.67. Following the completion of the sale, the chief executive officer owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total transaction of $5,348,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares of the company's stock, valued at approximately $19,077,243.74. This trade represents a 21.90% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 282,288 shares of company stock valued at $29,411,601. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of research analyst reports. Truist Financial increased their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Raymond James Financial raised their target price on shares of Boston Scientific from $121.00 to $124.00 and gave the company a "strong-buy" rating in a report on Thursday, July 24th. Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Leerink Partners began coverage on shares of Boston Scientific in a report on Monday, June 16th. They set an "outperform" rating and a $118.00 price target for the company. Finally, Jefferies Financial Group reissued a "hold" rating on shares of Boston Scientific in a research report on Monday, July 21st. Two investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $117.50.

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.