Boston Scientific Corporation (NYSE:BSX) Position Lifted by Boston Family Office LLC

Key Points

• Boston Family Office LLC increased its stake in Boston Scientific Corporation by 32.3% in the first quarter, owning 11,499 shares valued at $1.16 million.
• Analysts are optimistic about Boston Scientific, with a prevailing average rating of "Buy" and price targets suggesting potential upside, including a recent increase by Wells Fargo from $118 to $124.
• Insider trades indicate a selling trend, with executives like EVP Arthur C. Butcher reducing their holdings significantly, signifying possible cautiousness amid strong earnings reports.

Boston Family Office LLC grew its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 32.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,499 shares of the medical equipment provider's stock after acquiring an additional 2,805 shares during the period. Boston Family Office LLC's holdings in Boston Scientific were worth $1,160,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Boston Scientific by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider's stock worth $13,577,311,000 after buying an additional 1,697,945 shares during the last quarter. Capital World Investors raised its stake in Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after acquiring an additional 6,216,199 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Boston Scientific by 2.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock worth $1,992,994,000 after acquiring an additional 554,388 shares during the last quarter. Invesco Ltd. boosted its stake in Boston Scientific by 5.3% in the first quarter. Invesco Ltd. now owns 16,624,940 shares of the medical equipment provider's stock valued at $1,677,124,000 after acquiring an additional 834,274 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Boston Scientific by 18.0% during the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock valued at $1,303,681,000 after purchasing an additional 2,221,790 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BSX shares. Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company raised their target price on Boston Scientific from $118.00 to $124.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Evercore ISI upped their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. BTIG Research reissued a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Boston Scientific in a research report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $117.50.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 23,600 shares in the company, valued at approximately $2,469,268. This represents a 42.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,000 shares of Boston Scientific stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the transaction, the director owned 18,479 shares in the company, valued at approximately $1,959,328.37. The trade was a 17.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 345,029 shares of company stock valued at $35,976,603 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Trading Down 1.0%

Shares of NYSE BSX opened at $103.15 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Boston Scientific Corporation has a 12 month low of $77.29 and a 12 month high of $108.94. The company has a market cap of $152.84 billion, a price-to-earnings ratio of 61.40, a P/E/G ratio of 2.48 and a beta of 0.66. The business has a fifty day simple moving average of $103.56 and a 200-day simple moving average of $102.09.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data 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 return on equity of 19.21% and a net margin of 13.55%. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the company earned $0.62 EPS. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. Sell-side analysts predict that Boston Scientific Corporation 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.

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