Brookstone Capital Management Buys 7,101 Shares of Boston Scientific Corporation (NYSE:BSX)

Brookstone Capital Management increased its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,961 shares of the medical equipment provider's stock after purchasing an additional 7,101 shares during the period. Brookstone Capital Management's holdings in Boston Scientific were worth $11,395,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parnassus Investments LLC lifted its position in shares of Boston Scientific by 0.7% during the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after purchasing an additional 97 shares in the last quarter. Baldwin Investment Management LLC raised its holdings 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 worth $781,000 after buying an additional 102 shares during the last quarter. Evergreen Capital Management LLC grew its position in Boston Scientific by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock valued at $565,000 after buying an additional 106 shares during the period. PDS Planning Inc lifted its holdings in Boston Scientific by 1.5% during the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock valued at $668,000 after purchasing an additional 113 shares in the last quarter. Finally, Paladin Wealth LLC raised its stake in Boston Scientific by 1.6% during the first quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider's stock valued at $722,000 after purchasing an additional 113 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Activity at Boston Scientific

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president directly owned 36,193 shares of the company's stock, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the sale, the executive vice president owned 22,235 shares of the company's stock, valued at $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 461,970 shares of company stock valued at $47,755,193. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Truist Financial raised their price target on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. BTIG Research reiterated a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Evercore ISI boosted their price objective on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley upped their target price on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific presently has a consensus rating of "Buy" and a consensus price target of $116.09.

Boston Scientific Stock Down 0.8%

BSX stock traded down $0.86 during trading on Monday, reaching $103.46. 2,592,431 shares of the company traded hands, compared to its average volume of 6,650,597. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.53. The company has a market capitalization of $153.07 billion, a price-to-earnings ratio of 75.53, a price-to-earnings-growth ratio of 2.71 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The business has a 50 day simple moving average of $103.42 and a 200 day simple moving average of $100.22.

Boston Scientific (NYSE:BSX - Get Free Report) last released 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. The firm had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. Boston Scientific's revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 EPS. On average, equities research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal 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.