Crestwood Advisors Group LLC Has $8.21 Million Position in Boston Scientific Corporation (NYSE:BSX)

Crestwood Advisors Group LLC increased its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 19.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,418 shares of the medical equipment provider's stock after acquiring an additional 13,490 shares during the period. Crestwood Advisors Group LLC's holdings in Boston Scientific were worth $8,213,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. HM Payson & Co. grew its position in Boston Scientific by 1.4% in the first quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock valued at $694,000 after acquiring an additional 98 shares during the period. Baldwin Investment Management LLC grew its position 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 valued at $781,000 after acquiring an additional 102 shares during the period. Park Square Financial Group LLC grew its position in Boston Scientific by 5.2% in the first quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock valued at $208,000 after acquiring an additional 103 shares during the period. Evergreen Capital Management LLC grew its position in Boston Scientific by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock valued at $565,000 after acquiring an additional 106 shares during the period. Finally, Forum Financial Management LP grew its position in Boston Scientific by 0.8% in the first quarter. Forum Financial Management LP now owns 13,448 shares of the medical equipment provider's stock valued at $1,357,000 after acquiring an additional 112 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Down 1.7%

Shares of NYSE BSX traded down $1.84 during mid-day trading on Thursday, reaching $105.92. 4,366,029 shares of the company's stock were exchanged, compared to its average volume of 7,716,434. The firm has a market capitalization of $156.70 billion, a price-to-earnings ratio of 77.43, a PEG ratio of 3.00 and a beta of 0.68. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $103.55 and a 200 day simple moving average of $101.31. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $108.94.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. Boston Scientific's revenue was up 22.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. As a group, equities analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,314 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the transaction, the executive vice president directly owned 22,235 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the transaction, the chief executive officer owned 1,476,882 shares of the company's stock, valued at approximately $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 457,144 shares of company stock worth $47,296,288. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BSX shares. Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a research report on Monday. Needham & Company LLC restated a "buy" rating and set a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Wells Fargo & Company increased their target price on Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a report on Thursday. Leerink Partners started coverage on Boston Scientific in a report on Monday, June 16th. They set an "outperform" rating and a $118.00 target price on the stock. Finally, BTIG Research restated a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $117.13.

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.