Bleakley Financial Group LLC raised its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 13.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,279 shares of the medical equipment provider's stock after buying an additional 6,901 shares during the period. Bleakley Financial Group LLC's holdings in Boston Scientific were worth $5,980,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of BSX. Brighton Jones LLC raised its stake 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 buying an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake 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 buying an additional 21,173 shares in the last quarter. Highview Capital Management LLC DE raised its stake 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 buying an additional 1,439 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Boston Scientific by 40.2% during the fourth quarter. Proficio Capital Partners LLC now owns 5,333 shares of the medical equipment provider's stock worth $476,000 after purchasing an additional 1,528 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Boston Scientific by 17.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,850 shares of the medical equipment provider's stock worth $255,000 after purchasing an additional 421 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Evercore ISI lifted their target price on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Truist Financial lifted their target price on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Robert W. Baird lifted their target price on Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Citigroup reiterated a "buy" rating and set a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Twenty-two equities research 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 has an average rating of "Buy" and an average target price of $116.09.
View Our Latest Stock Report on Boston Scientific
Boston Scientific Price Performance
Shares of BSX opened at $103.16 on Monday. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.53. The stock's 50 day moving average is $103.42 and its two-hundred day moving average is $100.66. The firm has a market capitalization of $152.62 billion, a PE ratio of 75.30, a P/E/G ratio of 2.68 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.
Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the company earned $0.56 EPS. The firm's revenue for the quarter was up 20.9% compared to the same quarter last year. Research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.
Insider Buying and Selling at Boston Scientific
In other news, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the sale, the chief executive officer owned 1,476,882 shares of the company's stock, valued at $153,137,894.58. The trade was a 10.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 4,572 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the sale, the executive vice president directly owned 18,705 shares in the company, valued at $1,955,420.70. This trade represents a 19.64% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 461,970 shares of company stock worth $47,755,193. Corporate insiders own 0.50% of the company's stock.
Boston Scientific Profile
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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.
Further Reading
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