Main Street Research LLC raised its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 4,808.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 372,775 shares of the medical equipment provider's stock after acquiring an additional 365,180 shares during the period. Boston Scientific makes up 2.5% of Main Street Research LLC's investment portfolio, making the stock its 19th biggest holding. Main Street Research LLC's holdings in Boston Scientific were worth $37,606,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the business. Brighton Jones LLC raised its stake in shares of Boston Scientific by 0.8% during the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after buying an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Boston Scientific by 40.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after acquiring an additional 21,173 shares during the period. Highview Capital Management LLC DE grew its holdings in shares of Boston Scientific by 6.2% in the 4th quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock worth $2,189,000 after acquiring an additional 1,439 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Boston Scientific by 40.2% in the 4th quarter. Proficio Capital Partners LLC now owns 5,333 shares of the medical equipment provider's stock worth $476,000 after acquiring an additional 1,528 shares during the period. Finally, Ashton Thomas Private Wealth LLC grew its holdings in shares of Boston Scientific by 2.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 5,945 shares of the medical equipment provider's stock worth $531,000 after acquiring an additional 136 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. Citigroup restated a "buy" rating and issued a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Morgan Stanley upped their price target on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Royal Bank Of Canada upped their price target on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and set a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Barclays increased their target price on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Twenty-two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $116.09.
Get Our Latest Research Report on Boston Scientific
Insider Transactions at Boston Scientific
In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president owned 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the business's 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 in the company, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 461,970 shares of company stock valued at $47,755,193 in the last ninety days. Company insiders own 0.50% of the company's stock.
Boston Scientific Trading Down 0.7%
Boston Scientific stock traded down $0.70 during midday trading on Friday, reaching $103.16. The stock had a trading volume of 5,890,147 shares, compared to its average volume of 6,701,002. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.53. The stock has a market capitalization of $152.62 billion, a PE ratio of 75.30, a price-to-earnings-growth ratio of 2.70 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 stock's 50-day simple moving average is $103.42 and its 200 day simple moving average is $100.53.
Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter last year, the firm earned $0.56 earnings per share. The firm's revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.
About Boston Scientific
(
Free Report)
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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