Fiduciary Family Office LLC Buys New Position in Boston Scientific Corporation (NYSE:BSX)

Key Points

• Fiduciary Family Office LLC has made a new investment in Boston Scientific Corporation, purchasing 14,236 shares valued at approximately $1.436 million.
• Boston Scientific reported earnings of $0.75 per share for the latest quarter, surpassing analysts' expectations of $0.72 and showcasing a 22.8% increase in revenue year-over-year.
• Research firms have largely upgraded their ratings for Boston Scientific, with a consensus rating of "Buy" and an average price target of $117.50.

Fiduciary Family Office LLC acquired a new stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,236 shares of the medical equipment provider's stock, valued at approximately $1,436,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in Boston Scientific by 0.8% in the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after purchasing an additional 226 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in shares of Boston Scientific by 40.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after buying an additional 21,173 shares during the last quarter. Highview Capital Management LLC DE grew its holdings in Boston Scientific by 6.2% during the 4th quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock valued at $2,189,000 after purchasing an additional 1,439 shares during the last quarter. DRW Securities LLC bought a new position in Boston Scientific in the 4th quarter worth about $233,000. Finally, CenterBook Partners LP purchased a new stake in shares of Boston Scientific in the 4th quarter worth approximately $1,144,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Down 0.4%

BSX stock traded down $0.38 during trading on Monday, reaching $102.77. The stock had a trading volume of 4,166,126 shares, compared to its average volume of 7,572,511. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. Boston Scientific Corporation has a 1-year low of $75.44 and a 1-year high of $108.94. The firm has a fifty day moving average price of $103.52 and a 200 day moving average price of $102.07. The company has a market capitalization of $152.27 billion, a P/E ratio of 61.17, a PEG ratio of 2.48 and a beta of 0.66.

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

Analysts Set New Price Targets

A number of research firms recently commented on BSX. Morgan Stanley increased their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Boston Scientific in a research note on Monday, July 21st. Wells Fargo & Company upped their target price on shares of Boston Scientific from $118.00 to $124.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Barclays upped their price objective on shares of Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Two 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $117.50.

Insider Buying and Selling

In other Boston Scientific news, Director Edward J. Ludwig sold 4,000 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $106.03, for a total transaction of $424,120.00. Following the sale, the director directly owned 18,479 shares of the company's stock, valued at approximately $1,959,328.37. This represents a 17.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the 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 sale, the chief executive officer owned 1,476,882 shares in the company, valued at $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 345,029 shares of company stock valued at $35,976,603. 0.50% of the stock is owned by corporate 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.