Alta Advisers Ltd Purchases 2,400 Shares of Boston Scientific Corporation (NYSE:BSX)

Alta Advisers Ltd grew its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 49.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,232 shares of the medical equipment provider's stock after acquiring an additional 2,400 shares during the period. Alta Advisers Ltd's holdings in Boston Scientific were worth $730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Investment Management Corp VA ADV bought a new position in Boston Scientific during the 4th quarter worth approximately $25,000. Colonial Trust Co SC boosted its stake in Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 260 shares during the period. Sunbeam Capital Management LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $31,000. Finally, Fairway Wealth LLC bought a new stake in Boston Scientific during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Trading Down 2.4%

Boston Scientific stock traded down $2.59 during trading hours on Tuesday, reaching $104.82. 8,530,852 shares of the company's stock traded hands, compared to its average volume of 6,632,634. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The firm has a market capitalization of $155.08 billion, a price-to-earnings ratio of 76.51, a PEG ratio of 2.75 and a beta of 0.68. The firm's 50 day moving average is $103.02 and its 200-day moving average is $99.80. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $108.57.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business 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 company posted $0.56 earnings per share. The firm's revenue was up 20.9% on a year-over-year basis. On average, analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the sale, the executive vice president owned 18,705 shares of the company's stock, valued at $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the transaction, the chief executive officer directly owned 1,476,882 shares of the company's stock, valued at $153,137,894.58. This represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock worth $42,406,693 over the last ninety days. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BSX shares. Royal Bank Of Canada raised their price objective on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Citigroup reissued a "buy" rating and issued a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Needham & Company LLC restated a "buy" rating and set a $115.00 target price on shares of Boston Scientific in a research note on Wednesday, May 28th. BTIG Research reiterated a "buy" rating and set a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Leerink Partners began coverage on Boston Scientific in a research report on Monday, June 16th. They issued an "outperform" rating and a $118.00 price objective for the company. Twenty-two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $116.09.

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.