Envestnet Asset Management Inc. Raises Position in Boston Scientific Corporation (NYSE:BSX)

Envestnet Asset Management Inc. raised its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 14.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,790,965 shares of the medical equipment provider's stock after buying an additional 349,246 shares during the period. Envestnet Asset Management Inc. owned about 0.19% of Boston Scientific worth $281,553,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BSX. Investment Management Corp VA ADV acquired a new position in shares of Boston Scientific in the 4th quarter valued at $25,000. Colonial Trust Co SC grew its holdings in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 260 shares during the last quarter. Sunbeam Capital Management LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $26,000. Ameriflex Group Inc. purchased a new stake in shares of Boston Scientific in the 4th quarter valued at about $31,000. Finally, Fairway Wealth LLC acquired a new stake in shares of Boston Scientific in the 4th quarter valued at about $36,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the completion of the sale, the chief executive officer owned 1,476,882 shares of the company's stock, valued at approximately $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the transaction, the executive vice president directly owned 18,705 shares in the company, valued at $1,955,420.70. This represents a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 461,970 shares of company stock worth $47,755,193. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of research reports. Leerink Partnrs upgraded Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. BTIG Research reissued a "buy" rating and set a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Morgan Stanley increased their price objective on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Twenty-two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $116.09.

Boston Scientific Trading Up 0.5%

NYSE BSX traded up $0.55 during trading hours on Wednesday, hitting $102.96. 6,241,035 shares of the company's stock were exchanged, compared to its average volume of 6,685,151. The business's 50 day moving average is $103.45 and its 200-day moving average is $100.33. 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 Corporation has a 12-month low of $71.88 and a 12-month high of $107.53. The firm has a market capitalization of $152.32 billion, a P/E ratio of 75.15, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the firm posted $0.56 EPS. The company's revenue was up 20.9% on a year-over-year basis. As a group, analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

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.