Exencial Wealth Advisors LLC Invests $257,000 in Boston Scientific Corporation (NYSE:BSX)

Key Points

• Exencial Wealth Advisors LLC has invested $257,000 in Boston Scientific Corporation, acquiring 2,546 shares during the first quarter.
• Boston Scientific's recent earnings report revealed a quarterly revenue of $5.06 billion, exceeding analyst estimates of $4.89 billion.
• Analysts have a positive outlook on Boston Scientific, with multiple firms raising their target price for the stock to as high as $125.00.

Exencial Wealth Advisors LLC bought a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) 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 bought 2,546 shares of the medical equipment provider's stock, valued at approximately $257,000.

A number of other institutional investors have also added to or reduced their stakes in BSX. HM Payson & Co. grew its stake in shares of Boston Scientific by 1.4% in the first quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock worth $694,000 after purchasing an additional 98 shares during the last quarter. Baldwin Investment Management LLC grew its stake in shares of Boston Scientific by 1.2% in the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after purchasing an additional 102 shares during the last quarter. Park Square Financial Group LLC grew its stake in shares of Boston Scientific by 5.2% in the first quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock worth $208,000 after purchasing an additional 103 shares during the last quarter. HHM Wealth Advisors LLC grew its stake in shares of Boston Scientific by 13.2% in the first quarter. HHM Wealth Advisors LLC now owns 881 shares of the medical equipment provider's stock worth $89,000 after purchasing an additional 103 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its stake in shares of Boston Scientific by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $5,231,500.00. Following the completion of the sale, the executive vice president directly owned 178,342 shares in the company, valued at approximately $18,659,923.46. The trade was a 21.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the sale, the chief executive officer directly 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 345,029 shares of company stock worth $35,976,603. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Price Performance

Shares of BSX opened at $103.22 on Friday. The firm has a market cap of $152.95 billion, a PE ratio of 61.44, a P/E/G ratio of 2.48 and a beta of 0.66. The company has a current ratio of 1.37, a quick ratio of 0.88 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $103.54 and a two-hundred day simple moving average of $102.05. Boston Scientific Corporation has a 1-year low of $75.00 and a 1-year high of $108.94.

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

Wall Street Analyst Weigh In

BSX has been the topic of several recent analyst reports. Morgan Stanley raised their target price on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Oppenheimer raised their price objective on shares of Boston Scientific from $110.00 to $118.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. BTIG Research restated a "buy" rating and issued a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Citigroup restated a "buy" rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Finally, Robert W. Baird raised their price objective on shares of Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $117.50.

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.

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