2,723 Shares in Boston Scientific Corporation (NYSE:BSX) Purchased by Cooper Financial Group

Key Points

• Cooper Financial Group has acquired 2,723 shares of Boston Scientific Corporation, valued at approximately $275,000.
• Institutional investors own 89.07% of Boston Scientific stock, indicating strong institutional interest and confidence in the company.
• Recent analyst upgrades have boosted Boston Scientific's price targets, with Barclays raising their target from $125.00 to $133.00 and UBS increasing theirs from $130.00 to $135.00.

Cooper Financial Group acquired a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,723 shares of the medical equipment provider's stock, valued at approximately $275,000.

Other hedge funds have also modified their holdings of the company. Strengthening Families & Communities LLC grew its holdings in shares of Boston Scientific by 76.6% during the first quarter. Strengthening Families & Communities LLC now owns 1,466 shares of the medical equipment provider's stock worth $148,000 after buying an additional 636 shares during the last quarter. Entropy Technologies LP lifted its position in shares of Boston Scientific by 298.3% during the 1st quarter. Entropy Technologies LP now owns 9,562 shares of the medical equipment provider's stock valued at $965,000 after acquiring an additional 7,161 shares during the period. Invesco Ltd. increased its stake in shares of Boston Scientific by 5.3% during the 1st quarter. Invesco Ltd. now owns 16,624,940 shares of the medical equipment provider's stock worth $1,677,124,000 after purchasing an additional 834,274 shares in the last quarter. Berger Financial Group Inc increased its stake in shares of Boston Scientific by 11.0% during the 1st quarter. Berger Financial Group Inc now owns 11,301 shares of the medical equipment provider's stock worth $1,140,000 after purchasing an additional 1,123 shares in the last quarter. Finally, Fiduciary Family Office LLC purchased a new position in shares of Boston Scientific during the 1st quarter worth approximately $1,436,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Down 1.0%

Shares of NYSE BSX 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. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. Boston Scientific Corporation has a twelve month low of $77.29 and a twelve month high of $108.94. The company's 50 day moving average price is $103.56 and its 200 day moving average price is $102.10. The firm 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 released its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The company's revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. As a group, sell-side analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Evercore ISI lifted their target price 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. Truist Financial lifted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Boston Scientific in a research note on Thursday, July 24th. Robert W. Baird lifted their target price on shares of Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Two equities research 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. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $117.50.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the completion of the sale, the executive vice president owned 23,600 shares of the company's stock, valued at $2,469,268. This represents a 42.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig sold 4,000 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the completion of the sale, the director owned 18,479 shares in the company, valued at $1,959,328.37. This represents a 17.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 345,029 shares of company stock worth $35,976,603 over the last quarter. 0.50% of the stock is owned by 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.