Janney Montgomery Scott LLC Raises Stake in Boston Scientific Corporation (NYSE:BSX)

Janney Montgomery Scott LLC grew its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 37.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,463 shares of the medical equipment provider's stock after purchasing an additional 78,301 shares during the period. Janney Montgomery Scott LLC's holdings in Boston Scientific were worth $28,798,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Boston Scientific by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock valued at $11,869,805,000 after purchasing an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP lifted its position in Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after buying an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC grew its holdings in Boston Scientific by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock valued at $2,729,371,000 after purchasing an additional 1,041,329 shares during the last quarter. Capital World Investors grew its stake in shares of Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Boston Scientific by 2.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock worth $1,992,994,000 after purchasing an additional 554,388 shares during the period. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

NYSE:BSX traded down $0.37 during midday trading on Thursday, hitting $101.36. The company's stock had a trading volume of 5,188,625 shares, compared to its average volume of 6,586,240. The firm has a market cap of $149.96 billion, a P/E ratio of 73.99, a P/E/G ratio of 2.62 and a beta of 0.68. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The firm's 50 day moving average is $101.44 and its 200-day moving average is $98.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 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 for the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the company earned $0.56 earnings per share. Boston Scientific's revenue for the quarter was up 20.9% compared to the same quarter last year. Equities analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Robert W. Baird raised their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Truist Financial raised their price target on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Citigroup reaffirmed a "buy" rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Evercore ISI raised their target price 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. Finally, Morgan Stanley boosted their price target on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Twenty-two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Boston Scientific has an average rating of "Buy" and a consensus price target of $116.09.

Insider Activity

In related news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,476,882 shares in the company, valued at approximately $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock worth $42,406,693 in the last ninety days. 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.