Boston Scientific Corporation (NYSE:BSX) Shares Bought by FourThought Financial Partners LLC

Key Points

• FourThought Financial Partners LLC significantly increased its stake in Boston Scientific Corporation by 294.1% in the first quarter, owning 11,621 shares valued at $1,172,000.
• Boston Scientific reported a 22.8% year-over-year revenue increase with quarterly revenue of $5.06 billion and earnings per share of $0.75, exceeding analyst estimates.
• Investor sentiment is strong, as twenty-two analysts rated the stock as "buy," with a consensus target price of $117.50.

FourThought Financial Partners LLC boosted its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 294.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,621 shares of the medical equipment provider's stock after acquiring an additional 8,672 shares during the quarter. FourThought Financial Partners LLC's holdings in Boston Scientific were worth $1,172,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BSX. Investment Management Corp VA ADV bought a new stake in Boston Scientific during the fourth quarter valued at about $25,000. Colonial Trust Co SC boosted its stake in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 260 shares during the period. Sunbeam Capital Management LLC bought a new position in shares of Boston Scientific in the fourth quarter worth about $26,000. Ameriflex Group Inc. bought a new position in shares of Boston Scientific in the fourth quarter worth about $31,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Boston Scientific in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Price Performance

BSX stock traded down $0.30 during trading on Monday, hitting $105.84. The stock had a trading volume of 6,624,761 shares, compared to its average volume of 7,738,750. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $108.94. The stock has a market capitalization of $156.58 billion, a P/E ratio of 63.00, a PEG ratio of 2.55 and a beta of 0.68. The company's 50-day moving average price is $103.58 and its two-hundred day moving average price is $101.59.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The business had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same period in the previous year, the firm posted $0.62 EPS. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. As a group, research analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president owned 18,705 shares of the company's stock, valued at $1,955,420.70. This represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $106.97, for a total value of $5,348,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares in the company, valued at $19,077,243.74. This trade represents a 21.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 461,144 shares of company stock valued at $47,720,408 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BSX shares. Evercore ISI upped their price objective on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Citigroup restated a "buy" rating and set a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Finally, Robert W. Baird increased their price target on Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Boston Scientific presently has an average rating of "Buy" and an average price target of $117.50.

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.