Versant Capital Management Inc Has $548,000 Stake in Boston Scientific Co. (NYSE:BSX)

Versant Capital Management Inc grew its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 134.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,435 shares of the medical equipment provider's stock after acquiring an additional 3,121 shares during the quarter. Versant Capital Management Inc's holdings in Boston Scientific were worth $548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BSX. Parnassus Investments LLC lifted its stake in Boston Scientific by 0.7% in the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after acquiring an additional 97 shares during the last quarter. Baldwin Investment Management LLC lifted its stake in Boston Scientific by 1.2% in the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock valued at $781,000 after acquiring an additional 102 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in Boston Scientific by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock valued at $565,000 after acquiring an additional 106 shares during the last quarter. PDS Planning Inc lifted its stake in Boston Scientific by 1.5% in the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock valued at $668,000 after acquiring an additional 113 shares during the last quarter. Finally, Adero Partners LLC lifted its stake in Boston Scientific by 3.3% in the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock valued at $334,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Citigroup reissued a "buy" rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Wells Fargo & Company increased their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, Piper Sandler raised their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Twenty-one equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $116.00.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the sale, the executive vice president now directly owns 18,705 shares in the company, valued at $1,955,420.70. This trade represents a 19.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,155 shares of company stock worth $19,556,047 in the last ninety days. Company insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

Shares of BSX traded down $1.14 during mid-day trading on Monday, reaching $104.12. The company had a trading volume of 5,005,045 shares, compared to its average volume of 6,411,963. The company's 50 day simple moving average is $100.29 and its 200 day simple moving average is $98.02. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The company has a market capitalization of $154.03 billion, a price-to-earnings ratio of 83.29, a P/E/G ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the company earned $0.56 EPS. The firm's revenue was up 20.9% compared to the same quarter last year. Analysts expect that Boston Scientific Co. will post 2.85 EPS for the current 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.