Concurrent Investment Advisors LLC Raises Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

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

Several other hedge funds have also added to or reduced their stakes in BSX. Norges Bank bought a new stake in Boston Scientific in the fourth quarter worth $1,762,522,000. Capital World Investors boosted its holdings in Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after acquiring an additional 6,216,199 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after acquiring an additional 3,344,571 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Boston Scientific by 11,720.3% in the first quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider's stock worth $260,057,000 after acquiring an additional 2,556,078 shares in the last quarter. Finally, Axiom Investors LLC DE raised its stake in shares of Boston Scientific by 208.2% in the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock worth $335,167,000 after purchasing an additional 2,535,007 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Leerink Partnrs upgraded Boston Scientific to a "strong-buy" rating in a research report on Monday, June 16th. BTIG Research reiterated a "buy" rating and set a $124.00 price objective on shares of Boston Scientific in a research report on Wednesday, April 23rd. Finally, Leerink Partners initiated coverage on Boston Scientific in a research report on Monday, June 16th. They set an "outperform" rating and a $118.00 price objective for the company. Twenty-two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of "Buy" and an average price target of $116.09.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,314 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 22,235 shares of the company's stock, valued at approximately $2,269,304.10. This represents a 43.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president directly 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 461,970 shares of company stock valued at $47,755,193 in the last 90 days. 0.50% of the stock is currently owned by insiders.

Boston Scientific Price Performance

Shares of NYSE BSX traded up $0.84 during mid-day trading on Thursday, reaching $103.80. The company's stock had a trading volume of 7,224,970 shares, compared to its average volume of 6,700,714. The firm has a market capitalization of $153.56 billion, a PE ratio of 75.76, a P/E/G ratio of 2.68 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The stock has a fifty day moving average of $103.45 and a two-hundred day moving average of $100.35. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.53.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business's quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 earnings per share. As a group, sell-side analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

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.