GAM Holding AG Has $2.80 Million Holdings in Boston Scientific Corporation (NYSE:BSX)

GAM Holding AG boosted its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 32.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,776 shares of the medical equipment provider's stock after purchasing an additional 6,747 shares during the quarter. GAM Holding AG's holdings in Boston Scientific were worth $2,802,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BSX. Colonial Trust Co SC boosted its holdings in 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 purchasing an additional 260 shares during the period. Investment Management Corp VA ADV acquired a new position in Boston Scientific in the fourth quarter worth $25,000. Sunbeam Capital Management LLC acquired a new position in Boston Scientific in the fourth quarter worth $26,000. Ameriflex Group Inc. acquired a new position in Boston Scientific in the fourth quarter worth $31,000. Finally, Fairway Wealth LLC acquired a new position in Boston Scientific in the fourth quarter worth $36,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Price Performance

Boston Scientific stock traded down $0.02 during midday trading on Friday, hitting $101.35. The company's stock had a trading volume of 11,349,521 shares, compared to its average volume of 6,583,316. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The stock's 50-day moving average price is $101.77 and its 200-day moving average price is $99.11. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.17. The company has a market capitalization of $149.95 billion, a PE ratio of 73.98, a price-to-earnings-growth ratio of 2.62 and a beta of 0.68.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on BSX. Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. Morgan Stanley raised their target price on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Truist Financial raised their target price on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Citigroup reiterated a "buy" rating and issued a $125.00 target price (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Finally, Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Twenty-two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $116.09.

Insiders Place Their Bets

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,314 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 22,235 shares in the company, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 411,970 shares of company stock worth $42,406,693. 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.