Long Run Wealth Advisors LLC decreased its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,183 shares of the medical equipment provider's stock after selling 2,536 shares during the period. Long Run Wealth Advisors LLC's holdings in Boston Scientific were worth $3,751,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. TFC Financial Management Inc. raised its stake in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 210 shares in the last quarter. Colonial Trust Co SC raised its stake in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 260 shares during the last quarter. Investment Management Corp VA ADV acquired a new position in shares of Boston Scientific in the 4th quarter worth approximately $25,000. Sunbeam Capital Management LLC bought a new stake in Boston Scientific during the 4th quarter worth approximately $26,000. Finally, Ameriflex Group Inc. bought a new position in Boston Scientific in the 4th quarter valued at $31,000. Institutional investors own 89.07% of the company's stock.
Boston Scientific Stock Performance
NYSE BSX traded up $0.24 on Thursday, hitting $102.67. 8,242,498 shares of the stock were exchanged, compared to its average volume of 6,449,767. The business's fifty day moving average is $100.44 and its 200 day moving average is $98.20. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a market capitalization of $151.90 billion, a PE ratio of 82.14, a P/E/G ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.
Boston Scientific (NYSE:BSX - Get Free Report) last posted 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. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter last year, the company posted $0.56 earnings per share. Boston Scientific's quarterly revenue was up 20.9% on a year-over-year basis. Research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.
Insider Buying and Selling 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 shares were sold at an average price of $102.88, for a total value of $5,799,551.36. Following the transaction, the executive vice president now directly owns 178,342 shares of the company's stock, valued at $18,347,824.96. This trade represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the sale, the chief executive officer now owns 1,535,706 shares of the company's stock, valued at $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock valued at $42,406,693 in the last quarter. Company insiders own 0.50% of the company's stock.
Wall Street Analysts Forecast Growth
BSX has been the subject of a number of research reports. UBS Group raised their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 7th. Royal Bank of Canada boosted their target price on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Barclays lifted their price objective on Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Truist Financial upped their target price on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Twenty-one analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $116.00.
Read Our Latest Report on Boston Scientific
Boston Scientific Profile
(
Free Report)
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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