Insigneo Advisory Services LLC Boosts Holdings in Boston Scientific Corporation (NYSE:BSX)

Insigneo Advisory Services LLC increased its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 24.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,631 shares of the medical equipment provider's stock after purchasing an additional 2,906 shares during the period. Insigneo Advisory Services LLC's holdings in Boston Scientific were worth $1,476,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BSX. Brighton Jones LLC boosted its holdings in shares of Boston Scientific by 0.8% in the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after purchasing an additional 226 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Boston Scientific in the fourth quarter worth $33,074,000. Van ECK Associates Corp boosted its stake in Boston Scientific by 1.9% during the fourth quarter. Van ECK Associates Corp now owns 58,984 shares of the medical equipment provider's stock worth $5,268,000 after buying an additional 1,090 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Boston Scientific by 40.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after buying an additional 21,173 shares during the period. Finally, Legacy Capital Wealth Partners LLC bought a new position in Boston Scientific during the fourth quarter valued at $278,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

BSX has been the subject of several analyst reports. BTIG Research restated a "buy" rating and issued a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a research note on Monday. Barclays upped their target price on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Leerink Partners initiated coverage on Boston Scientific in a report on Monday. They issued an "outperform" rating and a $118.00 price target on the stock. Finally, Truist Financial boosted their price objective on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Twenty-two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Boston Scientific currently has a consensus rating of "Buy" and an average price target of $116.09.

Boston Scientific Stock Down 0.4%

Shares of BSX stock traded down $0.37 during trading hours on Thursday, reaching $101.36. 5,188,625 shares of the company's stock were exchanged, compared to its average volume of 6,586,240. Boston Scientific Corporation has a 1 year low of $71.88 and a 1 year high of $107.17. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The stock has a market cap of $149.96 billion, a PE ratio of 73.99, a PEG ratio of 2.63 and a beta of 0.68. The stock's fifty day moving average price is $101.44 and its two-hundred day moving average price is $98.91.

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 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 company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the firm earned $0.56 EPS. Boston Scientific's revenue was up 20.9% compared to the same quarter last year. Research analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 178,342 shares in the company, valued at $18,347,824.96. This represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction 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 trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock worth $42,406,693 in the last 90 days. 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.