Kingsman Wealth Management Inc. Acquires Shares of 26,811 Boston Scientific Corporation (NYSE:BSX)

Kingsman Wealth Management Inc. purchased a new stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 26,811 shares of the medical equipment provider's stock, valued at approximately $2,705,000. Boston Scientific makes up approximately 2.0% of Kingsman Wealth Management Inc.'s investment portfolio, making the stock its 14th biggest position.

Other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC raised its holdings in Boston Scientific by 1,910.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 230,677 shares of the medical equipment provider's stock worth $23,271,000 after purchasing an additional 219,201 shares during the period. Lindbrook Capital LLC raised its holdings in Boston Scientific by 20.8% in the 1st quarter. Lindbrook Capital LLC now owns 6,897 shares of the medical equipment provider's stock valued at $696,000 after acquiring an additional 1,186 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of Boston Scientific by 60.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 8,031 shares of the medical equipment provider's stock worth $810,000 after buying an additional 3,032 shares during the last quarter. Twin Capital Management Inc. boosted its position in Boston Scientific by 99.0% in the 1st quarter. Twin Capital Management Inc. now owns 40,663 shares of the medical equipment provider's stock valued at $4,102,000 after buying an additional 20,229 shares during the last quarter. Finally, Montag A & Associates Inc. lifted its holdings in Boston Scientific by 31.4% in the first quarter. Montag A & Associates Inc. now owns 3,286 shares of the medical equipment provider's stock worth $331,000 after acquiring an additional 786 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BSX. Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Robert W. Baird increased their price objective on Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Citigroup restated a "buy" rating and set a $125.00 price target (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Royal Bank Of Canada boosted their price target on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Raymond James Financial set a $121.00 price target on Boston Scientific and gave the stock a "strong-buy" rating in a research report on Monday. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $116.04.

Boston Scientific Trading Up 0.2%

Shares of NYSE:BSX traded up $0.21 during midday trading on Monday, reaching $103.85. The company had a trading volume of 5,525,241 shares, compared to its average volume of 6,749,662. The firm has a market cap of $153.64 billion, a price-to-earnings ratio of 75.81, a price-to-earnings-growth ratio of 2.69 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. Boston Scientific Corporation has a 1-year low of $71.88 and a 1-year high of $107.53. The company has a fifty day simple moving average of $103.42 and a two-hundred day simple moving average of $101.16.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 earnings per share. Research analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $106.97, for a total value of $5,348,500.00. Following the completion of the transaction, the executive vice president owned 178,342 shares of the company's stock, valued at approximately $19,077,243.74. This trade represents 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, EVP John Bradley Sorenson sold 4,572 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the transaction, the executive vice president owned 18,705 shares in the company, valued at $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 457,144 shares of company stock worth $47,296,288. Insiders own 0.50% of the company's stock.

Boston Scientific Company 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.