Heritage Financial Services LLC Makes New $947,000 Investment in Boston Scientific Corporation $BSX

Key Points

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Heritage Financial Services LLC bought a new position in Boston Scientific Corporation (NYSE:BSX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,388 shares of the medical equipment provider's stock, valued at approximately $947,000.

Several other hedge funds have also recently made changes to their positions in the stock. HM Payson & Co. raised its holdings in shares of Boston Scientific by 1.4% during the first quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock valued at $694,000 after purchasing an additional 98 shares during the last quarter. Baldwin Investment Management LLC grew 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 valued at $781,000 after buying an additional 102 shares during the period. Park Square Financial Group LLC grew its position in Boston Scientific by 5.2% during the first quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock valued at $208,000 after buying an additional 103 shares during the period. HHM Wealth Advisors LLC grew its position in Boston Scientific by 13.2% during the first quarter. HHM Wealth Advisors LLC now owns 881 shares of the medical equipment provider's stock valued at $89,000 after buying an additional 103 shares during the period. Finally, Forum Financial Management LP grew its position in Boston Scientific by 0.8% during the first quarter. Forum Financial Management LP now owns 13,448 shares of the medical equipment provider's stock valued at $1,357,000 after buying an additional 112 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group upped their price target on shares of Boston Scientific from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a research report on Monday, June 16th. Truist Financial upped their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Barclays upped their target price on shares of Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Robert W. Baird upped their price target on shares of Boston Scientific from $117.00 to $123.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $117.50.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the sale, the executive vice president owned 23,600 shares of the company's stock, valued at approximately $2,469,268. This represents a 42.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,000 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the sale, the director directly owned 18,479 shares in the company, valued at $1,959,328.37. This represents a 17.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 345,029 shares of company stock valued at $35,976,603. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $103.06 on Tuesday. The firm has a market capitalization of $152.71 billion, a P/E ratio of 61.35, a PEG ratio of 2.48 and a beta of 0.66. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average price of $103.62 and a 200 day moving average price of $102.09. Boston Scientific Corporation has a 52 week low of $77.71 and a 52 week high of $108.94.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. Boston Scientific's revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period last year, the firm posted $0.62 EPS. Sell-side analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.

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.

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