Koss Olinger Consulting LLC Takes $499,000 Position in Boston Scientific Corporation (NYSE:BSX)

Key Points

• Koss Olinger Consulting LLC has acquired a $499,000 position in Boston Scientific Corporation, purchasing 4,946 shares of the medical equipment provider's stock during the 1st quarter.
• Boston Scientific reported a quarterly revenue of $5.06 billion, exceeding expectations of $4.89 billion, and earnings per share of $0.75, beating the consensus estimate of $0.72.
• Analysts have largely favorable views on Boston Scientific, with many rating the stock as a "buy" or "strong-buy," and setting an average target price of $117.50.

Koss Olinger Consulting LLC acquired a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 4,946 shares of the medical equipment provider's stock, valued at approximately $499,000.

Several other institutional investors and hedge funds have also modified their holdings of BSX. Brighton Jones LLC grew its position 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 valued at $2,445,000 after purchasing an additional 226 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Boston Scientific by 40.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after purchasing an additional 21,173 shares during the period. Highview Capital Management LLC DE grew its position in shares of Boston Scientific by 6.2% in the 4th quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock valued at $2,189,000 after purchasing an additional 1,439 shares during the period. DRW Securities LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $233,000. Finally, Rockefeller Capital Management L.P. grew its position in shares of Boston Scientific by 7.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 148,074 shares of the medical equipment provider's stock valued at $13,191,000 after purchasing an additional 10,110 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Up 0.3%

BSX stock opened at $103.22 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.88. The stock has a market cap of $152.95 billion, a price-to-earnings ratio of 61.44, a price-to-earnings-growth ratio of 2.48 and a beta of 0.66. The company has a fifty day moving average price of $103.54 and a two-hundred day moving average price of $102.07. Boston Scientific Corporation has a one year low of $75.00 and a one year high of $108.94.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The company's quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 EPS. Equities analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Activity

In related news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the firm's stock in a transaction 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 transaction, the executive vice president owned 178,342 shares in the company, valued at approximately $18,347,824.96. This trade represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yoshiaki Fujimori sold 2,901 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total value of $310,377.99. Following the completion of the transaction, the director owned 2,081 shares in the company, valued at $222,646.19. The trade was a 58.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 345,029 shares of company stock worth $35,976,603. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

BSX has been the subject of a number of recent research reports. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Truist Financial upped their price target on Boston Scientific from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Leerink Partners initiated coverage on Boston Scientific in a research report on Monday, June 16th. They set an "outperform" rating and a $118.00 price target for the company. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Boston Scientific in a research report on Thursday, July 24th. Finally, Wells Fargo & Company upped their price objective on Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of "Buy" and an average target price of $117.50.

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.

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