Gateway Investment Advisers LLC Grows Stake in Boston Scientific Co. (NYSE:BSX)

Gateway Investment Advisers LLC boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 603,863 shares of the medical equipment provider's stock after buying an additional 3,838 shares during the period. Boston Scientific makes up about 0.7% of Gateway Investment Advisers LLC's holdings, making the stock its 29th largest holding. Gateway Investment Advisers LLC's holdings in Boston Scientific were worth $60,918,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Covenant Asset Management LLC purchased a new position in Boston Scientific during the 4th quarter valued at about $3,405,000. Wealthstar Advisors LLC purchased a new position in Boston Scientific during the 4th quarter valued at about $499,000. Stratos Wealth Partners LTD. increased its holdings in Boston Scientific by 136.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 23,590 shares of the medical equipment provider's stock valued at $2,107,000 after purchasing an additional 13,597 shares during the period. BostonPremier Wealth LLC purchased a new position in Boston Scientific during the 4th quarter valued at about $226,000. Finally, Bank Pictet & Cie Europe AG increased its holdings in Boston Scientific by 40.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after purchasing an additional 21,173 shares during the period. Institutional investors own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group lifted their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Argus set a $130.00 price objective on Boston Scientific in a research report on Tuesday, February 18th. Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Citigroup reissued a "buy" rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $115.00 price target on shares of Boston Scientific in a research report on Wednesday, May 28th. Twenty-one analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $116.00.

Boston Scientific Stock Down 0.8%

NYSE BSX traded down $0.79 on Friday, hitting $102.04. The stock had a trading volume of 9,114,389 shares, compared to its average volume of 6,467,344. The business's fifty day moving average price is $100.49 and its 200 day moving average price is $98.37. 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 Co. has a 52-week low of $71.88 and a 52-week high of $107.17. The stock has a market cap of $150.96 billion, a price-to-earnings ratio of 81.63, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the previous year, the company earned $0.56 earnings per share. The business's revenue for the quarter was up 20.9% on a year-over-year basis. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the completion of the transaction, the chief executive officer now owns 1,535,706 shares of the company's stock, valued at approximately $157,379,150.88. This trade represents a 9.67% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 411,970 shares of company stock worth $42,406,693. Company insiders own 0.50% of the company's stock.

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.