Envestnet Portfolio Solutions Inc. Grows Position in Boston Scientific Corporation (NYSE:BSX)

Envestnet Portfolio Solutions Inc. increased its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 10.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,857 shares of the medical equipment provider's stock after acquiring an additional 6,551 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Boston Scientific were worth $6,745,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BSX. Parnassus Investments LLC lifted its stake in Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after acquiring an additional 97 shares in the last quarter. Baldwin Investment Management LLC grew its stake in shares of Boston Scientific by 1.2% in the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after acquiring an additional 102 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Boston Scientific by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after acquiring an additional 106 shares in the last quarter. PDS Planning Inc raised its holdings in shares of Boston Scientific by 1.5% in the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock valued at $668,000 after purchasing an additional 113 shares during the last quarter. Finally, Paladin Wealth LLC lifted its position in shares of Boston Scientific by 1.6% during the first quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider's stock valued at $722,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Stock Performance

NYSE:BSX traded down $0.02 on Friday, reaching $101.35. 11,349,521 shares of the company's stock were exchanged, compared to its average volume of 6,583,316. The firm has a market cap of $149.95 billion, a price-to-earnings ratio of 73.98, a P/E/G ratio of 2.62 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 simple moving average of $101.77 and a 200-day simple moving average of $99.11. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.17.

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

Insider Transactions at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total value of $5,799,551.36. Following the completion of the transaction, the executive vice president now directly owns 178,342 shares in the company, valued at approximately $18,347,824.96. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,476,882 shares in the company, valued at $153,137,894.58. This trade represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock valued at $42,406,693 over the last three months. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Leerink Partners initiated coverage on shares of Boston Scientific in a research report on Monday, June 16th. They issued an "outperform" rating and a $118.00 price objective for the company. Citigroup restated a "buy" rating and issued a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a research report on Wednesday, May 28th. Truist Financial lifted their price target on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Leerink Partnrs upgraded Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Twenty-two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $116.09.

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.