Accurate Wealth Management LLC Acquires 28,107 Shares of Boston Scientific Co. (NYSE:BSX)

Accurate Wealth Management LLC lifted its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 1,168.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,512 shares of the medical equipment provider's stock after acquiring an additional 28,107 shares during the quarter. Accurate Wealth Management LLC's holdings in Boston Scientific were worth $2,858,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Investment Management Corp VA ADV acquired a new position in shares of Boston Scientific during the fourth quarter valued at $25,000. Colonial Trust Co SC boosted its holdings in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 260 shares during the period. TFC Financial Management Inc. boosted its stake in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 210 shares during the period. Sunbeam Capital Management LLC acquired a new position in Boston Scientific during the 4th quarter valued at about $26,000. Finally, Ameriflex Group Inc. acquired a new position in Boston Scientific during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial boosted their price objective on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Evercore ISI upped their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Citigroup reaffirmed a "buy" rating and issued a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Morgan Stanley upped their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Twenty-one analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $116.00.

Insider Transactions at Boston Scientific

In related news, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the transaction, the chief executive officer now directly owns 1,535,706 shares of the company's stock, valued at approximately $157,379,150.88. This trade represents a 9.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock valued at $42,406,693 in the last three months. Corporate insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 1.1%

Boston Scientific stock traded down $1.09 during mid-day trading on Thursday, hitting $98.31. The company's stock had a trading volume of 4,117,996 shares, compared to its average volume of 6,507,094. Boston Scientific Co. has a 52-week low of $71.88 and a 52-week high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The company has a market cap of $145.44 billion, a PE ratio of 78.65, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The firm's 50 day moving average is $100.70 and its 200 day moving average is $98.55.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The company's revenue was up 20.9% compared to the same quarter last year. On average, analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.