Clare Market Investments LLC Takes $1.14 Million Position in Boston Scientific Co. (NYSE:BSX)

Clare Market Investments LLC acquired a new position in Boston Scientific Co. (NYSE:BSX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,250 shares of the medical equipment provider's stock, valued at approximately $1,135,000.

Several other large investors also recently modified their holdings of the company. Covenant Asset Management LLC bought a new stake in shares of Boston Scientific during the 4th quarter valued at about $3,405,000. Jackson Wealth Management LLC boosted its holdings in shares of Boston Scientific by 1,201.1% in the fourth quarter. Jackson Wealth Management LLC now owns 51,770 shares of the medical equipment provider's stock worth $4,624,000 after buying an additional 47,791 shares during the last quarter. Wealthstar Advisors LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth approximately $499,000. Stratos Wealth Partners LTD. increased its holdings in Boston Scientific by 136.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 23,590 shares of the medical equipment provider's stock valued at $2,107,000 after buying an additional 13,597 shares during the last quarter. Finally, BostonPremier Wealth LLC bought a new position in Boston Scientific in the fourth quarter worth approximately $226,000. Institutional investors own 89.07% of the company's stock.

Insider Transactions at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at $3,441,592.37. This represents a 11.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the sale, the executive vice president now directly owns 178,342 shares of the company's stock, valued at $18,347,824.96. This represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 411,970 shares of company stock worth $42,406,693. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BSX shares. Citigroup reissued a "buy" rating and set a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Morgan Stanley lifted their price objective on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Wells Fargo & Company boosted their price objective on Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Barclays raised their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Royal Bank of Canada upped their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Twenty-one investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $116.00.

Boston Scientific Price Performance

NYSE:BSX traded down $0.79 during trading hours on Friday, reaching $102.04. The stock had a trading volume of 9,114,389 shares, compared to its average volume of 6,465,792. The stock has a market capitalization of $150.96 billion, a PE ratio of 81.63, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a 50 day moving average price of $100.47 and a two-hundred day moving average price of $98.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX - Get Free Report) last posted 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. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm 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. The business's quarterly revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts anticipate 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.