Main Street Research LLC Increases Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

Main Street Research LLC lifted its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 4,808.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 372,775 shares of the medical equipment provider's stock after purchasing an additional 365,180 shares during the quarter. Boston Scientific accounts for 2.5% of Main Street Research LLC's holdings, making the stock its 19th largest position. Main Street Research LLC's holdings in Boston Scientific were worth $37,606,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Bank Pictet & Cie Europe AG increased its stake in shares of 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 buying an additional 21,173 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Boston Scientific by 18.8% in the first quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock worth $3,987,000 after purchasing an additional 6,264 shares in the last quarter. Blue Trust Inc. lifted its stake in Boston Scientific by 13.0% in the first quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock valued at $504,000 after buying an additional 575 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Boston Scientific by 109.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider's stock valued at $24,126,000 after buying an additional 141,398 shares during the period. Finally, Little House Capital LLC bought a new position in shares of Boston Scientific during the 1st quarter worth approximately $945,000. 89.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction on 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 of the company's stock, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

Boston Scientific Stock Up 0.5%

NYSE:BSX traded up $0.55 during mid-day trading on Wednesday, hitting $102.96. 6,241,035 shares of the company's stock traded hands, compared to its average volume of 6,685,151. The company has a fifty day moving average of $103.45 and a 200 day moving average of $100.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.53. The company has a market capitalization of $152.32 billion, a P/E ratio of 75.15, a P/E/G ratio of 2.66 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The company's quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 EPS. On average, analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BSX shares. Needham & Company LLC reiterated a "buy" rating and set a $115.00 price objective on shares of Boston Scientific in a report on Wednesday, May 28th. Royal Bank Of Canada raised their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Morgan Stanley upped their price objective on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Barclays raised their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Wall Street Zen raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Twenty-two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $116.09.

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.