Capital Investment Advisors LLC Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

Capital Investment Advisors LLC lifted its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 331.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,516 shares of the medical equipment provider's stock after buying an additional 9,617 shares during the period. Capital Investment Advisors LLC's holdings in Boston Scientific were worth $1,263,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in Boston Scientific during the 4th quarter worth approximately $25,000. Colonial Trust Co SC boosted its position 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 during the last quarter. TFC Financial Management Inc. lifted its holdings 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 worth $25,000 after acquiring an additional 210 shares in the last quarter. Sunbeam Capital Management LLC bought a new position in Boston Scientific during the fourth quarter worth about $26,000. Finally, Ameriflex Group Inc. bought a new position in Boston Scientific during the fourth quarter worth about $31,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction that occurred 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 transaction, the senior vice president now owns 36,193 shares of the company's stock, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares of the company's stock, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,970 shares of company stock worth $42,406,693. Company insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

Shares of BSX traded up $1.04 during trading hours on Friday, reaching $99.60. The stock had a trading volume of 10,330,779 shares, compared to its average volume of 6,562,283. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.17. The stock has a market capitalization of $147.35 billion, a PE ratio of 79.68, a PEG ratio of 2.79 and a beta of 0.68. 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 company's 50-day moving average is $100.84 and its two-hundred day moving average is $98.62.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Boston Scientific's quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 earnings per share. Research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on BSX shares. Truist Financial boosted 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. 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. Robert W. Baird lifted their price target on Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Argus set a $130.00 price target on Boston Scientific in a report on Tuesday, February 18th. Finally, Evercore ISI boosted their price objective on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Twenty-one equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $116.00.

Boston Scientific 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.