Cerity Partners LLC Grows Holdings in Boston Scientific Corporation (NYSE:BSX)

Cerity Partners LLC increased its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 102.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,290,879 shares of the medical equipment provider's stock after acquiring an additional 653,370 shares during the quarter. Cerity Partners LLC owned approximately 0.09% of Boston Scientific worth $130,224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Colonial Trust Co SC increased its holdings in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new position in Boston Scientific in the 4th quarter valued at $25,000. Sunbeam Capital Management LLC acquired a new position in Boston Scientific in the 4th quarter valued at $26,000. Ameriflex Group Inc. purchased a new position in Boston Scientific during the 4th quarter worth $31,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Boston Scientific in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Trading Down 0.7%

Shares of Boston Scientific stock traded down $0.70 during trading hours on Friday, hitting $103.16. The company's stock had a trading volume of 5,890,147 shares, compared to its average volume of 6,701,002. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $152.62 billion, a PE ratio of 75.30, a P/E/G ratio of 2.70 and a beta of 0.68. The business has a fifty day moving average of $103.46 and a 200 day moving average of $100.45. Boston Scientific Corporation has a 1-year low of $71.88 and a 1-year high of $107.53.

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

Insider Activity

In other news, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction that occurred 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 sale, the executive vice president owned 22,235 shares in the company, valued at $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president owned 18,705 shares of the company's stock, valued at $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,970 shares of company stock worth $47,755,193 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BSX shares. Truist Financial increased their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Barclays increased their target price on Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Robert W. Baird lifted their price target on Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Morgan Stanley increased their price objective on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Citigroup restated a "buy" rating and set a $125.00 target price (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Twenty-two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of "Buy" and a consensus target price of $116.09.

About Boston Scientific

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.