Spirepoint Private Client LLC Grows Stock Position in Boston Scientific Corporation (NYSE:BSX)

Spirepoint Private Client LLC boosted its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 9.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,621 shares of the medical equipment provider's stock after buying an additional 6,596 shares during the quarter. Boston Scientific accounts for approximately 1.0% of Spirepoint Private Client LLC's portfolio, making the stock its 29th largest holding. Spirepoint Private Client LLC's holdings in Boston Scientific were worth $8,032,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new position in shares of Boston Scientific in the fourth quarter valued at $25,000. Colonial Trust Co SC grew its stake in Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 260 shares during the last quarter. Sunbeam Capital Management LLC acquired a new stake in Boston Scientific in the 4th quarter valued at about $26,000. Ameriflex Group Inc. purchased a new position in Boston Scientific during the 4th quarter valued at about $31,000. Finally, Fairway Wealth LLC acquired a new position in Boston Scientific during the fourth quarter worth about $36,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now owns 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,767,066.84. Following the transaction, the executive vice president now owns 22,235 shares in the company, valued at $2,269,304.10. The trade was a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock worth $42,406,693 over the last three months. 0.50% of the stock is owned by insiders.

Boston Scientific Trading Up 0.2%

BSX stock traded up $0.19 on Wednesday, hitting $104.31. 5,691,604 shares of the company were exchanged, compared to its average volume of 6,584,490. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The stock has a market capitalization of $154.32 billion, a price-to-earnings ratio of 76.14, a price-to-earnings-growth ratio of 2.65 and a beta of 0.68. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.17. The business's fifty day moving average is $102.14 and its two-hundred day moving average is $99.29.

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 (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business's quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 EPS. As a group, research analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on BSX. Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 target price on shares of Boston Scientific in a research note on Wednesday, May 28th. Evercore ISI raised their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research report 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 report on Friday, May 16th. Finally, Barclays increased their price objective on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target 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.