IFP Advisors Inc Has $1.68 Million Holdings in Boston Scientific Corporation (NYSE:BSX)

IFP Advisors Inc grew its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 105.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,675 shares of the medical equipment provider's stock after purchasing an additional 8,570 shares during the period. IFP Advisors Inc's holdings in Boston Scientific were worth $1,682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after buying an additional 226 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Boston Scientific by 40.8% in 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 acquiring an additional 21,173 shares during the period. Highview Capital Management LLC DE lifted its stake in shares of Boston Scientific by 6.2% during the 4th quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock worth $2,189,000 after buying an additional 1,439 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Boston Scientific by 40.2% during the 4th quarter. Proficio Capital Partners LLC now owns 5,333 shares of the medical equipment provider's stock worth $476,000 after buying an additional 1,528 shares during the last quarter. Finally, LPL Financial LLC raised its stake in Boston Scientific by 13.0% in the 4th quarter. LPL Financial LLC now owns 1,119,017 shares of the medical equipment provider's stock worth $99,951,000 after purchasing an additional 129,019 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Insiders Place Their Bets

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total transaction of $5,348,500.00. Following the transaction, the executive vice president owned 178,342 shares of the company's stock, valued at approximately $19,077,243.74. The trade was a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the transaction, the chief executive officer directly owned 1,476,882 shares in the company, valued at $153,137,894.58. This trade represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 457,144 shares of company stock valued at $47,296,288 in the last three months. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Performance

BSX stock opened at $103.50 on Wednesday. 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 business's fifty day simple moving average is $103.42 and its two-hundred day simple moving average is $101.16. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.53. The firm has a market cap of $153.12 billion, a price-to-earnings ratio of 75.55, a PEG ratio of 3.02 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 18.67% and a net margin of 11.58%. The firm had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. During the same period last year, the business posted $0.56 earnings per share. The company's revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BSX has been the topic of several recent analyst reports. Morgan Stanley raised their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a research report on Monday, June 16th. Truist Financial boosted their price target 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. Finally, Barclays boosted their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $116.04.

Boston Scientific 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.

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