Chicago Capital LLC Grows Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

Chicago Capital LLC grew its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 144.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 497,991 shares of the medical equipment provider's stock after acquiring an additional 294,515 shares during the quarter. Chicago Capital LLC's holdings in Boston Scientific were worth $50,237,000 at the end of the most recent quarter.

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

Insider Transactions at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 56,372 shares of Boston Scientific stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the sale, the executive vice president now directly owns 178,342 shares in the company, valued at $18,347,824.96. The trade was a 24.02% 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, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,970 shares of company stock valued at $42,406,693. Company insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

BSX has been the topic of a number of research analyst reports. Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a research note on Monday. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. BTIG Research reissued a "buy" rating and set a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, Barclays increased their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Twenty-two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $116.09.

Boston Scientific Trading Down 0.4%

NYSE BSX traded down $0.37 on Thursday, hitting $101.36. The company's stock had a trading volume of 5,188,625 shares, compared to its average volume of 6,586,240. The firm has a market cap of $149.96 billion, a P/E ratio of 73.99, a PEG ratio of 2.62 and a beta of 0.68. Boston Scientific Corporation has a 52-week low of $71.88 and a 52-week high of $107.17. The company's 50-day simple moving average is $101.62 and its 200 day simple moving average is $98.98. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm's revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share. Research analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current fiscal 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.