Argentarii LLC Purchases 3,616 Shares of Boston Scientific Corporation (NYSE:BSX)

Argentarii LLC increased its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 13.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,983 shares of the medical equipment provider's stock after acquiring an additional 3,616 shares during the period. Boston Scientific comprises approximately 1.6% of Argentarii LLC's holdings, making the stock its 17th largest position. Argentarii LLC's holdings in Boston Scientific were worth $3,126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BSX. Vanguard Group Inc. raised its holdings in shares of Boston Scientific by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock valued at $11,869,805,000 after purchasing an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP raised its stake in Boston Scientific by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after buying an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC raised its stake in Boston Scientific by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock valued at $2,729,371,000 after buying an additional 1,041,329 shares during the last quarter. Capital World Investors lifted its holdings in shares of Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after buying an additional 6,216,199 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Boston Scientific by 2.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock valued at $1,992,994,000 after acquiring an additional 554,388 shares during the period. 89.07% of the stock is owned by institutional investors.

Boston Scientific Price Performance

Shares of BSX traded up $0.67 during midday trading on Friday, hitting $104.30. 2,931,148 shares of the company traded hands, compared to its average volume of 6,666,246. 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 stock has a market cap of $154.30 billion, a price-to-earnings ratio of 76.13, a PEG ratio of 2.71 and a beta of 0.68. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.53. The firm has a 50 day moving average of $103.42 and a 200-day moving average of $100.14.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The company's revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. On average, analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the transaction, the executive vice president owned 18,705 shares in the company, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the 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 sale, the chief executive officer owned 1,476,882 shares in the company, valued at $153,137,894.58. The trade was a 10.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 461,970 shares of company stock worth $47,755,193. Insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

BSX has been the subject of a number of recent research reports. Barclays boosted their price target on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Evercore ISI boosted their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Leerink Partners initiated coverage on shares of Boston Scientific in a research report on Monday, June 16th. They issued an "outperform" rating and a $118.00 price target on the stock. Truist Financial lifted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Twenty-two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average 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.