Brooklyn FI LLC Makes New $642,000 Investment in Boston Scientific Co. (NYSE:BSX)

Brooklyn FI LLC bought a new stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,296 shares of the medical equipment provider's stock, valued at approximately $642,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BSX. TFC Financial Management Inc. increased its position in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 210 shares during the last quarter. Colonial Trust Co SC grew its stake in shares of Boston Scientific by 1,625.0% during the 4th 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 stake in shares of Boston Scientific during the 4th quarter valued at about $25,000. Sunbeam Capital Management LLC bought a new position in shares of Boston Scientific in the 4th quarter worth approximately $26,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Boston Scientific in the fourth quarter worth approximately $31,000. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on BSX shares. Wall Street Zen raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Citigroup restated a "buy" rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. 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 report on Friday, April 25th. Finally, UBS Group upped their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Twenty-one equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $116.00.

Insider Activity at Boston Scientific

In other Boston Scientific 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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Bradley Sorenson sold 4,572 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the sale, the executive vice president now owns 18,705 shares in the company, valued at approximately $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. Over the last three months, insiders sold 191,155 shares of company stock valued at $19,556,047. Insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded up $0.58 on Friday, hitting $105.08. 10,524,691 shares of the company traded hands, compared to its average volume of 6,427,290. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The business has a 50-day simple moving average of $100.29 and a 200 day simple moving average of $97.88. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The stock has a market capitalization of $155.46 billion, a P/E ratio of 84.06, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results 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 11.07% and a return on equity of 17.80%. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the firm posted $0.56 EPS. Boston Scientific's revenue for the quarter was up 20.9% compared to the same quarter last year. Research analysts expect that Boston Scientific Co. 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.