Concurrent Investment Advisors LLC Has $1.34 Million Stock Position in Boston Scientific Corporation (NYSE:BSX)

Concurrent Investment Advisors LLC boosted its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 36.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,245 shares of the medical equipment provider's stock after acquiring an additional 3,509 shares during the period. Concurrent Investment Advisors LLC's holdings in Boston Scientific were worth $1,336,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after acquiring an additional 226 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake 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 worth $6,529,000 after acquiring an additional 21,173 shares during the last quarter. Highview Capital Management LLC DE grew its stake in shares of Boston Scientific by 6.2% in the fourth quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock worth $2,189,000 after acquiring an additional 1,439 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of Boston Scientific by 40.2% in the fourth quarter. Proficio Capital Partners LLC now owns 5,333 shares of the medical equipment provider's stock worth $476,000 after acquiring an additional 1,528 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its stake in shares of Boston Scientific by 2.3% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 5,945 shares of the medical equipment provider's stock worth $531,000 after acquiring an additional 136 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Price Performance

Shares of NYSE BSX traded up $0.78 during midday trading on Thursday, reaching $103.74. 1,993,759 shares of the company traded hands, compared to its average volume of 7,627,092. The firm has a market cap of $153.48 billion, a PE ratio of 75.73, a PEG ratio of 2.66 and a beta of 0.68. The stock's 50-day simple moving average is $103.45 and its 200-day simple moving average is $100.35. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.53. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 18.67% and a net margin of 11.58%. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. During the same period last year, the business earned $0.56 earnings per share. The business's revenue was up 20.9% on a year-over-year basis. As a group, equities analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup restated a "buy" rating and issued a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Evercore ISI raised their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Robert W. Baird lifted their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Morgan Stanley lifted their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Twenty-two investment 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.com, the stock currently has an average rating of "Buy" and a consensus target price of $116.09.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the transaction, the executive vice president directly owned 22,235 shares of the company's stock, valued at $2,269,304.10. The trade was a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president owned 18,705 shares of the company's stock, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,970 shares of company stock valued at $47,755,193 over the last three months. Company insiders own 0.50% of the company's stock.

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.