Blair William & Co. IL Raises Position in Boston Scientific Corporation (NYSE:BSX)

Key Points

• Blair William & Co. IL significantly increased its stake in Boston Scientific by 425.7% in the first quarter, acquiring an additional 95,505 shares and bringing its total holdings to 117,942 shares worth approximately $11.9 million.
• Boston Scientific reported earnings of $0.75 per share for the last quarter, surpassing analysts' estimates of $0.72, with revenue of $5.06 billion, a 22.8% increase year-over-year.
• Institutional investors own 89.07% of Boston Scientific's stock, with companies like Colonial Trust Co SC and Ameriflex Group Inc. making notable investments this past quarter.

Blair William & Co. IL increased its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 425.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,942 shares of the medical equipment provider's stock after acquiring an additional 95,505 shares during the period. Blair William & Co. IL's holdings in Boston Scientific were worth $11,898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG raised 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 worth $6,529,000 after acquiring an additional 21,173 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Boston Scientific by 18.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock worth $3,987,000 after acquiring an additional 6,264 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Boston Scientific in the 1st quarter worth about $8,234,000. Blue Trust Inc. raised its holdings in shares of Boston Scientific by 13.0% in the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock worth $504,000 after acquiring an additional 575 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in Boston Scientific by 109.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider's stock valued at $24,126,000 after buying an additional 141,398 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $104.63, for a total value of $1,811,459.19. Following the completion of the transaction, the executive vice president directly owned 23,600 shares in the company, valued at approximately $2,469,268. The trade was a 42.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 4,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $106.03, for a total value of $424,120.00. Following the sale, the director owned 18,479 shares in the company, valued at $1,959,328.37. The trade was a 17.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 345,029 shares of company stock worth $35,976,603. Company insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

NYSE BSX traded up $0.26 on Friday, hitting $103.22. The stock had a trading volume of 5,076,176 shares, compared to its average volume of 7,613,214. Boston Scientific Corporation has a 52-week low of $75.00 and a 52-week high of $108.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.88 and a current ratio of 1.37. The company has a market capitalization of $152.95 billion, a price-to-earnings ratio of 61.44, a price-to-earnings-growth ratio of 2.48 and a beta of 0.66. The firm has a 50-day moving average of $103.54 and a 200-day moving average of $102.05.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its 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 business had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same period in the prior year, the company posted $0.62 EPS. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. Equities analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Morgan Stanley increased their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Truist Financial increased their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Needham & Company LLC reiterated a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a research note on Wednesday, May 28th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a research note on Monday, July 21st. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Boston Scientific presently has an average rating of "Buy" and an average price target 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.