Boston Scientific Corporation (NYSE:BSX) Shares Acquired by Investment Management Corp VA ADV

Key Points

• Investment Management Corp VA ADV increased its stake in Boston Scientific by a remarkable 1,573.8% during the first quarter, acquiring an additional 4,328 shares worth approximately $464,000.
• In the fourth quarter, various institutional investors also boosted their positions in Boston Scientific, with Bank Pictet & Cie Europe AG leading with a 40.8% increase in share ownership.
• Boston Scientific reported a net margin of 13.55% and a year-over-year revenue increase of 22.8% in its most recent quarterly earnings, surpassing analysts' revenue estimates significantly.

Investment Management Corp VA ADV lifted its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 1,573.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,603 shares of the medical equipment provider's stock after purchasing an additional 4,328 shares during the period. Investment Management Corp VA ADV's holdings in Boston Scientific were worth $464,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after acquiring an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after acquiring an additional 21,173 shares in the last quarter. Highview Capital Management LLC DE raised its holdings in Boston Scientific by 6.2% in the fourth quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock valued at $2,189,000 after acquiring an additional 1,439 shares in the last quarter. Modern Wealth Management LLC acquired a new stake in Boston Scientific in the fourth quarter valued at $269,000. Finally, Blair William & Co. IL raised its holdings in Boston Scientific by 12.3% in the fourth quarter. Blair William & Co. IL now owns 22,437 shares of the medical equipment provider's stock valued at $2,004,000 after acquiring an additional 2,461 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president owned 18,705 shares of the company's stock, valued at $1,955,420.70. This represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total transaction of $5,348,500.00. Following the completion of the sale, the executive vice president directly owned 178,342 shares of the company's stock, valued at $19,077,243.74. The trade was a 21.90% decrease in their position. The disclosure for this sale can be found here. Over 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.

Boston Scientific Stock Performance

BSX stock opened at $106.07 on Friday. The company has a market capitalization of $156.92 billion, a P/E ratio of 63.14, a PEG ratio of 2.67 and a beta of 0.68. The company has a 50-day simple moving average of $103.58 and a 200 day simple moving average of $101.51. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $108.94. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47.

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 for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The company's quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share. Sell-side analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on BSX. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. Evercore ISI boosted their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Raymond James Financial boosted their target price on shares of Boston Scientific from $121.00 to $124.00 and gave the company a "strong-buy" rating in a research note on Thursday. Truist Financial boosted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday. Finally, UBS Group boosted their target price on shares of Boston Scientific from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $117.50.

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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