J.Safra Asset Management Corp lifted its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 55.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,552 shares of the medical equipment provider's stock after buying an additional 2,686 shares during the period. J.Safra Asset Management Corp's holdings in Boston Scientific were worth $762,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Parnassus Investments LLC lifted its stake in Boston Scientific by 0.7% in the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after buying an additional 97 shares during the last quarter. Baldwin Investment Management LLC increased its holdings in shares of Boston Scientific by 1.2% in the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after acquiring an additional 102 shares during the period. Evergreen Capital Management LLC lifted its position in Boston Scientific by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock valued at $565,000 after purchasing an additional 106 shares during the last quarter. PDS Planning Inc boosted its stake in Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock valued at $668,000 after purchasing an additional 113 shares during the period. Finally, Paladin Wealth LLC boosted its stake in Boston Scientific by 1.6% during the 1st quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider's stock valued at $722,000 after purchasing an additional 113 shares during the period. Institutional investors own 89.07% of the company's stock.
Boston Scientific Stock Performance
Shares of BSX opened at $106.83 on Monday. 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 firm's 50 day moving average is $102.74 and its 200-day moving average is $99.68. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $107.17. The stock has a market capitalization of $158.04 billion, a P/E ratio of 77.98, a P/E/G ratio of 2.75 and a beta of 0.68.
Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The firm 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 firm's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. Equities research analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.
Wall Street Analyst Weigh In
BSX has been the topic of several analyst reports. Royal Bank Of Canada raised their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Barclays lifted their target price on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Leerink Partners initiated coverage on Boston Scientific in a research report on Monday, June 16th. They set an "outperform" rating and a $118.00 price target for the company. Finally, Truist Financial raised their price target on Boston Scientific from $113.00 to $117.00 and gave the company 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $116.09.
Check Out Our Latest Stock Analysis on BSX
Insider Buying and Selling
In related news, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now directly owns 1,535,706 shares in the company, valued at $157,379,150.88. This represents a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock worth $42,406,693 in the last three months. 0.50% of the stock is currently owned by insiders.
Boston Scientific Profile
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Free Report)
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.
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