3,021 Shares in Boston Scientific Corporation (NYSE:BSX) Acquired by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group LLC has acquired a new stake in Boston Scientific Corporation, purchasing 3,021 shares valued at approximately $317,000 during the first quarter.
• Insider trading at Boston Scientific saw significant sales, with EVP Arthur C. Butcher and EVP Joseph Michael Fitzgerald selling shares totaling over $7 million, representing a notable decrease in their holdings.
• Boston Scientific reported a $5.06 billion revenue for the last quarter, exceeding analysts' expectations, and an EPS of $0.75, indicating a 22.8% year-over-year revenue growth.

Chicago Partners Investment Group LLC bought a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,021 shares of the medical equipment provider's stock, valued at approximately $317,000.

Several other institutional investors and hedge funds have also made changes to their positions in BSX. Bank Pictet & Cie Europe AG raised its holdings in shares of Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after acquiring an additional 21,173 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Boston Scientific by 18.8% in the first quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock valued at $3,987,000 after acquiring an additional 6,264 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Boston Scientific in the first quarter valued at about $8,234,000. Blue Trust Inc. raised its holdings in shares of Boston Scientific by 13.0% in the first quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock valued at $504,000 after acquiring an additional 575 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Boston Scientific by 109.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider's stock valued at $24,126,000 after acquiring an additional 141,398 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on BSX. Morgan Stanley boosted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Truist Financial boosted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Evercore ISI boosted their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Raymond James Financial upped their price objective on shares of Boston Scientific from $121.00 to $124.00 and gave the company a "strong-buy" rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $117.50.

Boston Scientific Price Performance

BSX stock traded down $1.00 during midday trading on Friday, reaching $103.15. The stock had a trading volume of 5,342,171 shares, compared to its average volume of 6,961,994. Boston Scientific Corporation has a 52-week low of $77.29 and a 52-week high of $108.94. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. The company's fifty day simple moving average is $103.56 and its 200 day simple moving average is $102.10. The company has a market cap of $152.84 billion, a price-to-earnings ratio of 61.40, a price-to-earnings-growth ratio of 2.51 and a beta of 0.66.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The company's quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. As a group, sell-side analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Yoshiaki Fujimori sold 2,901 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total transaction of $310,377.99. Following the completion of the sale, the director directly owned 2,081 shares of the company's stock, valued at approximately $222,646.19. This trade represents a 58.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.69, for a total value of $17,051,094.67. Following the completion of the transaction, the chief executive officer directly owned 1,476,882 shares of the company's stock, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 345,029 shares of company stock worth $35,976,603. 0.50% of the stock is currently owned by corporate insiders.

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.