Fedenia Advisers LLC Has $611,000 Position in Boston Scientific Corporation (NYSE:BSX)

Fedenia Advisers LLC grew its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 551.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,059 shares of the medical equipment provider's stock after buying an additional 5,129 shares during the period. Fedenia Advisers LLC's holdings in Boston Scientific were worth $611,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Investment Management Corp VA ADV acquired a new stake in shares of Boston Scientific during the fourth quarter worth $25,000. Colonial Trust Co SC grew its stake 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 period. Sunbeam Capital Management LLC acquired a new position in Boston Scientific in the fourth quarter valued at about $26,000. Ameriflex Group Inc. acquired a new position in Boston Scientific in the fourth quarter valued at about $31,000. Finally, Fairway Wealth LLC acquired a new position in Boston Scientific in the fourth quarter valued at about $36,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 value of $17,051,094.67. Following the transaction, the chief executive officer owned 1,476,882 shares of the company's stock, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the transaction, the executive vice president directly owned 22,235 shares in the company, valued at $2,269,304.10. The trade was a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 461,970 shares of company stock valued at $47,755,193 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Performance

NYSE:BSX traded up $0.79 on Thursday, hitting $104.42. The company's stock had a trading volume of 1,696,918 shares, compared to its average volume of 6,636,174. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average of $103.31 and a two-hundred day moving average of $99.86. The firm has a market capitalization of $154.49 billion, a P/E ratio of 76.26, a price-to-earnings-growth ratio of 2.72 and a beta of 0.68. Boston Scientific Corporation has a one year low of $71.88 and a one year high of $107.53.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Evercore ISI boosted their target price on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. BTIG Research reissued a "buy" rating and issued a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 price objective on shares of Boston Scientific in a research report on Wednesday, May 28th. Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a research report on Monday, June 16th. Finally, Royal Bank Of Canada upped their price objective on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $116.09.

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.