Financial Counselors Inc. Buys 4,680 Shares of Boston Scientific Corporation (NYSE:BSX)

Financial Counselors Inc. lifted its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 63.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,048 shares of the medical equipment provider's stock after purchasing an additional 4,680 shares during the period. Financial Counselors Inc.'s holdings in Boston Scientific were worth $1,215,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Colonial Trust Co SC boosted its holdings in shares of Boston Scientific by 1,625.0% during the fourth 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 during the period. Investment Management Corp VA ADV purchased a new stake in Boston Scientific in the fourth quarter worth about $25,000. Sunbeam Capital Management LLC purchased a new stake in Boston Scientific in the fourth quarter worth about $26,000. Ameriflex Group Inc. purchased a new stake in Boston Scientific in the fourth quarter worth about $31,000. Finally, Fairway Wealth LLC purchased a new stake in Boston Scientific in the fourth quarter worth about $36,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup restated a "buy" rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and set a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Barclays boosted their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. BTIG Research restated a "buy" rating and issued a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Truist Financial boosted their price objective 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. Twenty-two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $116.09.

Boston Scientific Stock Performance

Shares of BSX stock traded down $0.70 during mid-day trading on Friday, reaching $103.16. 5,872,749 shares of the company's stock traded hands, compared to its average volume of 7,653,374. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.53. The firm has a 50 day moving average price of $103.46 and a two-hundred day moving average price of $100.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The firm has a market capitalization of $152.62 billion, a PE ratio of 75.30, a price-to-earnings-growth ratio of 2.68 and a beta of 0.68.

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

Insider Activity

In related news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $106.97, for a total value of $5,348,500.00. Following the completion of the transaction, the executive vice president owned 178,342 shares of the company's stock, valued at approximately $19,077,243.74. This represents a 21.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president directly owned 36,193 shares of the company's stock, valued at $3,441,592.37. This represents a 11.77% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 461,970 shares of company stock worth $47,755,193. Company insiders own 0.50% of the company's stock.

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.