Empower Advisory Group LLC Has $3.31 Million Position in Boston Scientific Corporation (NYSE:BSX)

Key Points

• Empower Advisory Group LLC increased its stake in Boston Scientific Corporation by 204.0% in Q1, owning 32,793 shares valued at approximately $3.3 million after purchasing an additional 22,005 shares.
• Insider sales include CEO Michael F. Mahoney selling 164,443 shares for over $17 million, representing a 10.02% decrease in his holdings.
• Boston Scientific reported a quarterly EPS of $0.75, exceeding expectations, with revenues reaching $5.06 billion, a 22.8% increase year-over-year.

Empower Advisory Group LLC lifted its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 204.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,793 shares of the medical equipment provider's stock after acquiring an additional 22,005 shares during the period. Empower Advisory Group LLC's holdings in Boston Scientific were worth $3,308,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BSX. Capital World Investors raised its stake in shares of Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after acquiring an additional 6,216,199 shares in the last quarter. GAMMA Investing LLC grew its holdings in Boston Scientific by 11,720.3% in the 1st quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider's stock valued at $260,057,000 after buying an additional 2,556,078 shares during the last quarter. Northern Trust Corp grew its holdings in Boston Scientific by 18.0% in the 4th quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock valued at $1,303,681,000 after buying an additional 2,221,790 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Boston Scientific by 18.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,839,362 shares of the medical equipment provider's stock valued at $968,172,000 after buying an additional 1,709,461 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Boston Scientific by 161.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,485,696 shares of the medical equipment provider's stock valued at $250,757,000 after buying an additional 1,536,663 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Trading Down 0.1%

Shares of Boston Scientific stock traded down $0.06 during trading hours on Thursday, hitting $102.89. The company's stock had a trading volume of 5,405,736 shares, compared to its average volume of 7,704,204. Boston Scientific Corporation has a 12 month low of $74.01 and a 12 month high of $108.94. The stock has a 50 day moving average of $103.58 and a 200 day moving average of $102.04. The company has a market capitalization of $152.46 billion, a PE ratio of 61.25, a price-to-earnings-growth ratio of 2.48 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.88.

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

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of research analyst reports. Evercore ISI raised their target price on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Morgan Stanley lifted their price objective on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. Barclays raised their target price on Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of "Buy" and a consensus target price of $117.50.

Insider Buying and Selling

In other Boston Scientific news, Director Yoshiaki Fujimori sold 2,901 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total value of $310,377.99. Following the completion of the sale, the director directly owned 2,081 shares in the company, valued at $222,646.19. This represents a 58.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $104.63, for a total value of $1,811,459.19. Following the transaction, the executive vice president directly owned 23,600 shares of the company's stock, valued at $2,469,268. This represents a 42.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 345,029 shares of company stock valued at $35,976,603. 0.50% of the stock is owned by company insiders.

About Boston Scientific

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.