GAMMA Investing LLC Raises Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

GAMMA Investing LLC grew its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 17.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 25,554 shares of the medical equipment provider's stock after buying an additional 3,745 shares during the period. GAMMA Investing LLC's holdings in Boston Scientific were worth $2,578,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Boston Scientific during the 4th quarter worth about $1,762,522,000. Capital World Investors grew its holdings in shares of Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after buying an additional 6,216,199 shares in the last quarter. Wellington Management Group LLP raised its position in Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after buying an additional 3,344,571 shares during the last quarter. Axiom Investors LLC DE grew its stake in shares of Boston Scientific by 208.2% during the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock worth $335,167,000 after acquiring an additional 2,535,007 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Boston Scientific by 18.0% in the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock worth $1,303,681,000 after purchasing an additional 2,221,790 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

BSX stock traded down $1.14 during midday trading on Wednesday, hitting $103.64. The company's stock had a trading volume of 3,979,814 shares, compared to its average volume of 6,631,968. 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 has a market cap of $153.33 billion, a price-to-earnings ratio of 75.67, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Corporation has a 1 year low of $71.88 and a 1 year high of $107.53. The stock's 50-day moving average price is $103.22 and its 200 day moving average price is $99.84.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the business posted $0.56 earnings per share. The business's revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the transaction, the executive vice president directly owned 18,705 shares of the company's stock, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the completion of the transaction, the executive vice president directly owned 178,342 shares of the company's stock, valued at $18,347,824.96. The trade was a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 411,970 shares of company stock valued at $42,406,693. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BSX. Robert W. Baird raised their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Leerink Partners started coverage on Boston Scientific in a research report on Monday, June 16th. They issued an "outperform" rating and a $118.00 target price on the stock. BTIG Research restated a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, Truist Financial raised their target price on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Twenty-two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Boston Scientific currently has a consensus rating of "Buy" and a consensus price target 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.