Kestra Private Wealth Services LLC Acquires 6,977 Shares of Boston Scientific Corporation (NYSE:BSX)

Kestra Private Wealth Services LLC grew its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 21.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,130 shares of the medical equipment provider's stock after purchasing an additional 6,977 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Boston Scientific were worth $4,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Formidable Asset Management LLC bought a new position in Boston Scientific during the first quarter valued at about $206,000. Private Advisor Group LLC raised its stake in shares of Boston Scientific by 10.8% in the 1st quarter. Private Advisor Group LLC now owns 38,274 shares of the medical equipment provider's stock valued at $3,861,000 after acquiring an additional 3,734 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Boston Scientific by 23.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,464,372 shares of the medical equipment provider's stock worth $450,241,000 after purchasing an additional 847,477 shares during the last quarter. Ring Mountain Capital LLC bought a new stake in Boston Scientific during the first quarter worth approximately $302,000. Finally, Sachetta LLC grew its holdings in Boston Scientific by 29.2% during the first quarter. Sachetta LLC now owns 1,873 shares of the medical equipment provider's stock valued at $189,000 after purchasing an additional 423 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a research note on Wednesday, May 28th. Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Citigroup reaffirmed a "buy" rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Evercore ISI boosted their price objective on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Leerink Partners began coverage on Boston Scientific in a research note on Monday, June 16th. They set an "outperform" rating and a $118.00 target price for the company. Twenty-two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Boston Scientific currently has a consensus rating of "Buy" and a consensus target price of $116.09.

Boston Scientific Stock Down 0.9%

Shares of BSX opened at $103.68 on Monday. 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 company has a 50-day moving average price of $103.42 and a two-hundred day moving average price of $101.16. The stock has a market cap of $153.39 billion, a price-to-earnings ratio of 75.68, a P/E/G ratio of 2.69 and a beta of 0.68. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.53.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results 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. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the firm earned $0.56 EPS. Boston Scientific's quarterly revenue was up 20.9% on a year-over-year basis. Equities analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Activity

In related news, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president directly owned 22,235 shares of the company's stock, valued at $2,269,304.10. This trade represents a 43.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the transaction, the chief executive officer directly owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 457,144 shares of company stock valued at $47,296,288. Company insiders own 0.50% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.