Boston Scientific Corporation (NYSE:BSX) Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Boston Scientific Corporation by purchasing an additional 4,994 shares, bringing its total ownership to approximately 1,124,011 shares valued at $113.39 million.
• Boston Scientific's quarterly revenue increased by 22.8% year-over-year to $5.06 billion, and it reported an EPS of $0.75, surpassing analysts' estimates.
• Several large investors, including Geode Capital Management LLC and Capital World Investors, also significantly raised their stakes in Boston Scientific during the last quarter, reflecting a strong institutional interest.

LPL Financial LLC increased its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 0.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,124,011 shares of the medical equipment provider's stock after purchasing an additional 4,994 shares during the period. LPL Financial LLC owned approximately 0.08% of Boston Scientific worth $113,390,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Investment Management Corp VA ADV acquired a new stake in Boston Scientific during the 4th quarter worth approximately $25,000. Colonial Trust Co SC lifted its holdings in Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after buying an additional 260 shares in the last quarter. Sunbeam Capital Management LLC acquired a new stake in Boston Scientific during the 4th quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new stake in shares of Boston Scientific in the 4th quarter valued at $31,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Boston Scientific in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded down $1.89 during midday trading on Thursday, hitting $104.87. The stock had a trading volume of 6,714,432 shares, compared to its average volume of 7,264,099. The company has a market capitalization of $155.15 billion, a PE ratio of 62.42, a P/E/G ratio of 2.57 and a beta of 0.68. Boston Scientific Corporation has a 1 year low of $71.88 and a 1 year high of $108.94. The stock has a 50 day moving average price of $103.61 and a two-hundred day moving average price of $101.80. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The firm's revenue was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. As a group, equities analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BSX shares. Truist Financial raised their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Robert W. Baird raised their price objective on shares of Boston Scientific from $117.00 to $123.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Boston Scientific in a research note on Thursday, July 24th. Finally, Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $117.50.

Insider Activity

In related news, EVP John Bradley Sorenson sold 4,572 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the sale, the executive vice president owned 18,705 shares of the company's stock, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Yoshiaki Fujimori sold 2,901 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total transaction of $310,377.99. Following the sale, the director directly owned 2,081 shares in the company, valued at approximately $222,646.19. This represents a 58.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 282,288 shares of company stock valued at $29,411,601 in the last quarter. 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.