Jag Capital Management LLC raised its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 27.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,235 shares of the medical equipment provider's stock after acquiring an additional 45,983 shares during the quarter. Boston Scientific comprises approximately 2.9% of Jag Capital Management LLC's investment portfolio, making the stock its 8th biggest holding. Jag Capital Management LLC's holdings in Boston Scientific were worth $21,814,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC grew its holdings in Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 260 shares during the period. Investment Management Corp VA ADV bought a new position in Boston Scientific during the fourth quarter worth about $25,000. Sunbeam Capital Management LLC acquired a new position in shares of Boston Scientific in the fourth quarter valued at $26,000. Ameriflex Group Inc. acquired a new position in shares of Boston Scientific in the fourth quarter valued at $31,000. Finally, Fairway Wealth LLC acquired a new position in shares of Boston Scientific in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 89.07% of the company's stock.
Wall Street Analysts Forecast Growth
BSX has been the topic of a number of analyst reports. Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Citigroup reaffirmed a "buy" rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Robert W. Baird increased 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. Needham & Company LLC restated a "buy" rating and issued a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Evercore ISI lifted their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Twenty-two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $116.09.
View Our Latest Report on Boston Scientific
Boston Scientific Trading Up 2.1%
NYSE BSX traded up $2.25 on Friday, hitting $106.83. The company's stock had a trading volume of 15,636,958 shares, compared to its average volume of 6,623,509. 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 company's 50-day simple moving average is $102.74 and its 200 day simple moving average is $99.62. The firm has a market cap of $158.05 billion, a P/E ratio of 77.98, a PEG ratio of 2.75 and a beta of 0.68. Boston Scientific Corporation has a 52-week low of $71.88 and a 52-week high of $107.17.
Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The company's revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share. Research analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.
Insider Buying and Selling at Boston Scientific
In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 in the company, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 411,970 shares of company stock valued at $42,406,693. Corporate insiders own 0.50% of the company's stock.
About Boston Scientific
(
Free Report)
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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