Boston Scientific Corporation (NYSE:BSX) Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Boston Scientific Corporation (NYSE:BSX) by 4.9%, owning 334,733 shares valued at approximately $33.77 million following the purchase of an additional 15,572 shares.
• Several institutional investors, including Capital World Investors and Wellington Management Group, significantly raised their holdings in Boston Scientific during the fourth quarter, reflecting strong institutional interest.
• Boston Scientific reported earnings of $0.75 per share in its latest quarterly results, exceeding estimates, and its revenue increased by 22.8% year-over-year, reaching $5.06 billion.

Cetera Investment Advisers lifted its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 334,733 shares of the medical equipment provider's stock after acquiring an additional 15,572 shares during the quarter. Cetera Investment Advisers' holdings in Boston Scientific were worth $33,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Colonial Trust Co SC increased its holdings in shares of 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 worth $25,000 after purchasing an additional 260 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in shares of Boston Scientific in the 4th quarter worth $25,000. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth $26,000. Ameriflex Group Inc. bought a new stake in shares of Boston Scientific in the 4th quarter worth $31,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth $36,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on BSX. UBS Group lifted their target price on Boston Scientific from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Thursday. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Royal Bank Of Canada restated an "outperform" rating on shares of Boston Scientific in a research report on Thursday. Jefferies Financial Group restated a "hold" rating on shares of Boston Scientific in a research report on Monday, July 21st. Finally, Robert W. Baird boosted their price objective on Boston Scientific from $117.00 to $123.00 and gave the company an "outperform" rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $117.50.

Insider Activity

In related news, EVP Arthur C. Butcher sold 17,314 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the transaction, the executive vice president owned 22,235 shares of the company's stock, valued at $2,269,304.10. This represents a 43.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction on Monday, May 5th. The shares were 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. In the last 90 days, insiders have sold 461,144 shares of company stock valued at $47,720,408. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Trading Down 0.3%

NYSE BSX traded down $0.30 during trading hours on Monday, hitting $105.84. 6,624,761 shares of the company were exchanged, compared to its average volume of 7,738,750. The stock has a 50-day moving average price of $103.58 and a 200 day moving average price of $101.59. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $108.94. The stock has a market cap of $156.58 billion, a PE ratio of 63.00, a price-to-earnings-growth ratio of 2.55 and a beta of 0.68.

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. The company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The firm's revenue for the quarter was up 22.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 earnings per share. Analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

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.