Fifth Third Wealth Advisors LLC Acquires 5,566 Shares of Boston Scientific Co. (NYSE:BSX)

Fifth Third Wealth Advisors LLC increased its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 17.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,315 shares of the medical equipment provider's stock after buying an additional 5,566 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Boston Scientific were worth $3,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parnassus Investments LLC increased its stake in shares of Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock worth $1,327,000 after purchasing an additional 97 shares in the last quarter. Baldwin Investment Management LLC increased its position in Boston Scientific by 1.2% during the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after buying an additional 102 shares in the last quarter. Evergreen Capital Management LLC raised its holdings 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 acquiring an additional 106 shares during the last quarter. PDS Planning Inc lifted its position 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 acquiring an additional 113 shares in the last quarter. Finally, Adero Partners LLC lifted its position in shares of Boston Scientific by 3.3% in the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock valued at $334,000 after acquiring an additional 120 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boston Scientific

In related news, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the sale, the chief executive officer now directly owns 1,535,706 shares in the company, valued at approximately $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 411,970 shares of company stock valued at $42,406,693. 0.50% of the stock is owned by insiders.

Boston Scientific Price Performance

Shares of BSX traded up $0.18 during midday trading on Thursday, reaching $102.61. The stock had a trading volume of 3,447,641 shares, compared to its average volume of 6,432,143. The firm's 50 day moving average price is $100.44 and its 200-day moving average price is $98.20. The company has a market capitalization of $151.81 billion, a P/E ratio of 82.09, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

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 for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company's revenue was up 20.9% compared to the same quarter last year. During the same period last year, the company posted $0.56 EPS. On average, analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. BTIG Research reiterated a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Barclays increased their price target on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Evercore ISI upped their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Royal Bank of Canada lifted their price objective on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Morgan Stanley lifted their price target on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Twenty-one equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $116.00.

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.