Boston Scientific Corporation (NYSE:BSX) Position Raised by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. increased its position in Boston Scientific by 1.5%, now owning 263,016 shares valued at approximately $26.5 million.
• Boston Scientific reported a 22.8% increase in quarterly revenue year-over-year, totaling $5.06 billion, and earnings per share (EPS) of $0.75, beating the consensus estimate.
• Numerous research analysts have upgraded Boston Scientific's stock ratings and price targets, with a consensus price target of $117.50 and an average rating of "Buy."

Cookson Peirce & Co. Inc. increased its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,016 shares of the medical equipment provider's stock after purchasing an additional 3,998 shares during the period. Boston Scientific accounts for about 1.3% of Cookson Peirce & Co. Inc.'s investment portfolio, making the stock its 27th largest holding. Cookson Peirce & Co. Inc.'s holdings in Boston Scientific were worth $26,533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSX. Colonial Trust Co SC grew its position in 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 worth $25,000 after buying an additional 260 shares during the last quarter. Investment Management Corp VA ADV acquired a new position in Boston Scientific in the fourth quarter worth approximately $25,000. Sunbeam Capital Management LLC acquired a new position in Boston Scientific in the fourth quarter worth approximately $26,000. Y.D. More Investments Ltd acquired a new position in Boston Scientific in the first quarter worth approximately $27,000. Finally, Ameriflex Group Inc. acquired a new position in Boston Scientific in the fourth quarter worth approximately $31,000. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Raymond James Financial lifted their price target on shares of Boston Scientific from $121.00 to $124.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 24th. Oppenheimer lifted their price target on shares of Boston Scientific from $110.00 to $118.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Barclays lifted their price target on shares of Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a research report on Monday, July 21st. Finally, Leerink Partners began coverage on shares of Boston Scientific in a research report on Monday, June 16th. They set an "outperform" rating and a $118.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $117.50.

Boston Scientific Stock Down 0.1%

BSX stock opened at $102.56 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. Boston Scientific Corporation has a 1 year low of $75.53 and a 1 year high of $108.94. The company has a fifty day simple moving average of $103.51 and a 200 day simple moving average of $102.08. The firm has a market cap of $151.97 billion, a PE ratio of 61.05, a PEG ratio of 2.47 and a beta of 0.66.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the previous year, the business earned $0.62 EPS. Boston Scientific's quarterly revenue was up 22.8% compared to the same quarter last year. Sell-side analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $5,231,500.00. Following the completion of the transaction, the executive vice president owned 178,342 shares of the company's stock, valued at $18,659,923.46. The trade was a 21.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the transaction, the executive vice president directly owned 23,600 shares of the company's stock, valued at approximately $2,469,268. This represents a 42.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 345,029 shares of company stock worth $35,976,603 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

About Boston Scientific

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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