Boston Scientific Corporation (NYSE:BSX) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management raised its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 6.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 112,961 shares of the medical equipment provider's stock after buying an additional 7,101 shares during the period. Brookstone Capital Management's holdings in Boston Scientific were worth $11,395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Colonial Trust Co SC increased its stake in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 260 shares in the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC purchased a new stake in Boston Scientific in the 4th quarter worth $26,000. Ameriflex Group Inc. purchased a new stake in Boston Scientific in the 4th quarter worth $31,000. Finally, Fairway Wealth LLC purchased a new stake in Boston Scientific in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Barclays boosted 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. Leerink Partners assumed coverage on Boston Scientific in a research note on Monday, June 16th. They set an "outperform" rating and a $118.00 price objective for the company. Truist Financial increased their price objective on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. BTIG Research restated a "buy" rating and issued a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Citigroup reaffirmed a "buy" rating and set a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Twenty-two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $116.09.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the transaction, the executive vice president owned 22,235 shares of the company's stock, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president directly owned 18,705 shares of the company's stock, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 461,970 shares of company stock worth $47,755,193 over the last ninety days. Company insiders own 0.50% of the company's stock.

Boston Scientific Trading Down 0.5%

BSX stock traded down $0.57 during mid-day trading on Monday, hitting $103.75. 5,892,140 shares of the company were exchanged, compared to its average volume of 6,663,148. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $153.49 billion, a P/E ratio of 75.73, a PEG ratio of 2.71 and a beta of 0.68. The business has a fifty day simple moving average of $103.45 and a 200-day simple moving average of $100.32. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $107.53.

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

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.