AXS Investments LLC Acquires 3,814 Shares of Boston Scientific Corporation (NYSE:BSX)

Key Points

• AXS Investments LLC has boosted its stake in Boston Scientific Corporation by 23.6%, acquiring an additional 3,814 shares, bringing its total holdings to 19,942 shares valued at approximately $2,012,000.
• Boston Scientific recently saw two upgrades to a "strong-buy" rating from Erste Group Bank and Leerink Partners, with a consensus target price of $117.50 from analysts.
• The firm reported a 22.8% increase in revenue year-over-year, achieving $5.06 billion and surpassing analyst expectations for the quarter.

AXS Investments LLC increased its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 23.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,942 shares of the medical equipment provider's stock after acquiring an additional 3,814 shares during the quarter. AXS Investments LLC's holdings in Boston Scientific were worth $2,012,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. HM Payson & Co. increased its position in Boston Scientific by 1.4% during the first quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock worth $694,000 after acquiring an additional 98 shares during the period. Baldwin Investment Management LLC increased its position in Boston Scientific by 1.2% during the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after acquiring an additional 102 shares during the period. Park Square Financial Group LLC increased its position in Boston Scientific by 5.2% during the first quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock worth $208,000 after acquiring an additional 103 shares during the period. HHM Wealth Advisors LLC grew its stake in Boston Scientific by 13.2% during the first quarter. HHM Wealth Advisors LLC now owns 881 shares of the medical equipment provider's stock worth $89,000 after buying an additional 103 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in Boston Scientific by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after buying an additional 106 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BSX shares. Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Needham & Company LLC reiterated a "buy" rating and set a $115.00 price objective on shares of Boston Scientific in a research note on Wednesday, May 28th. Oppenheimer increased their price objective on shares of Boston Scientific from $110.00 to $118.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Finally, Evercore ISI increased their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of "Buy" and a consensus target price of $117.50.

Boston Scientific Stock Down 1.9%

Boston Scientific stock opened at $104.71 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.88 and a current ratio of 1.37. Boston Scientific Corporation has a 52-week low of $73.02 and a 52-week high of $108.94. The firm has a 50 day moving average price of $103.65 and a two-hundred day moving average price of $102.00. The firm has a market cap of $155.15 billion, a price-to-earnings ratio of 62.33, a PEG ratio of 2.57 and a beta of 0.66.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the business earned $0.62 EPS. The company's revenue was up 22.8% compared to the same quarter last year. Equities analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Buying and Selling

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction on Friday, August 1st. The shares were sold at an average price of $104.63, for a total value of $5,231,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares in the company, valued at $18,659,923.46. The trade was a 21.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Yoshiaki Fujimori sold 2,901 shares of Boston Scientific stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total transaction of $310,377.99. Following the completion of the sale, the director owned 2,081 shares of the company's stock, valued at $222,646.19. This represents a 58.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 345,029 shares of company stock worth $35,976,603 over the last ninety days. 0.50% of the stock is owned by company insiders.

About Boston Scientific

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.

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