Gradient Investments LLC Purchases 7,476 Shares of Boston Scientific Co. (NYSE:BSX)

Gradient Investments LLC lifted its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 224,375 shares of the medical equipment provider's stock after acquiring an additional 7,476 shares during the quarter. Gradient Investments LLC's holdings in Boston Scientific were worth $22,635,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BSX. Strong Tower Advisory Services acquired a new position in Boston Scientific during the first quarter worth about $421,000. NBC Securities Inc. grew its position in shares of Boston Scientific by 110,136.4% in the first quarter. NBC Securities Inc. now owns 12,126 shares of the medical equipment provider's stock valued at $1,223,000 after purchasing an additional 12,115 shares during the last quarter. Worth Asset Management LLC acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $1,346,000. Talbot Financial LLC acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $204,000. Finally, Czech National Bank grew its position in shares of Boston Scientific by 6.0% in the first quarter. Czech National Bank now owns 338,618 shares of the medical equipment provider's stock valued at $34,160,000 after purchasing an additional 19,290 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Up 0.5%

Shares of BSX stock traded up $0.54 during trading on Thursday, reaching $102.97. The company's stock had a trading volume of 4,435,106 shares, compared to its average volume of 7,609,132. The business has a fifty day moving average price of $100.44 and a 200-day moving average price of $98.20. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company has a market cap of $152.34 billion, a price-to-earnings ratio of 82.38, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a one year low of $71.88 and a one year high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm's revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In related news, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the transaction, the chief executive officer now directly owns 1,535,706 shares in the company, valued at approximately $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction dated Monday, April 21st. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock worth $42,406,693 over the last ninety days. Insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Barclays lifted their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Evercore ISI raised their price objective on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Raymond James raised their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a report on Thursday, February 6th. Finally, Needham & Company LLC restated a "buy" rating and set a $115.00 price objective on shares of Boston Scientific in a report on Wednesday, May 28th. Twenty-one analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $116.00.

Boston Scientific Company 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.