Harbour Investments Inc. Acquires 2,469 Shares of Boston Scientific Corporation (NYSE:BSX)

Key Points

• Harbour Investments Inc. significantly increased its stake in Boston Scientific by 84.8% during the first quarter, owning 5,379 shares worth approximately $543,000.
• Several institutional investors, such as Capital World Investors and GAMMA Investing LLC, also raised their positions in Boston Scientific, indicating strong confidence in the stock's performance.
• Boston Scientific recently reported earnings of $0.75 per share, surpassing analyst expectations and showing a 22.8% year-over-year revenue increase to $5.06 billion.

Harbour Investments Inc. raised its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 84.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 5,379 shares of the medical equipment provider's stock after acquiring an additional 2,469 shares during the quarter. Harbour Investments Inc.'s holdings in Boston Scientific were worth $543,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC grew its position in shares of Boston Scientific by 13.2% during the 1st quarter. HHM Wealth Advisors LLC now owns 881 shares of the medical equipment provider's stock valued at $89,000 after acquiring an additional 103 shares during the period. Sound View Wealth Advisors Group LLC purchased a new stake in shares of Boston Scientific during the 1st quarter valued at $266,000. Hoxton Planning & Management LLC purchased a new position in Boston Scientific in the 1st quarter worth $220,000. RVW Wealth LLC purchased a new position in Boston Scientific in the 1st quarter worth $501,000. Finally, Davis R M Inc. bought a new stake in shares of Boston Scientific in the first quarter worth about $201,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $104.63, for a total value of $1,811,459.19. Following the sale, the executive vice president directly owned 23,600 shares of the company's stock, valued at $2,469,268. This trade represents a 42.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Yoshiaki Fujimori sold 2,901 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total value of $310,377.99. Following the completion of the transaction, the director owned 2,081 shares of the company's stock, valued at $222,646.19. The trade was a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 345,029 shares of company stock valued at $35,976,603 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Price Performance

NYSE BSX traded up $0.84 during midday trading on Friday, hitting $103.80. The company had a trading volume of 1,870,800 shares, compared to its average volume of 7,622,984. The company has a current ratio of 1.37, a quick ratio of 0.88 and a debt-to-equity ratio of 0.49. Boston Scientific Corporation has a twelve month low of $75.00 and a twelve month high of $108.94. The company has a market capitalization of $153.81 billion, a PE ratio of 61.80, a P/E/G ratio of 2.48 and a beta of 0.66. The firm has a 50-day moving average price of $103.58 and a 200-day moving average price of $102.04.

Boston Scientific (NYSE:BSX - Get Free Report) last issued 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. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Boston Scientific's revenue for the quarter was up 22.8% on a year-over-year basis. As a group, analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BSX shares. Leerink Partners started coverage on shares of Boston Scientific in a research note on Monday, June 16th. They set an "outperform" rating and a $118.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Barclays lifted their price objective on shares of Boston Scientific from $125.00 to $133.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a research report on Wednesday, May 28th. Finally, BTIG Research reissued a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $117.50.

Boston Scientific Company 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.