McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 5,094 shares of the medical equipment provider's stock, valued at approximately $514,000.
A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in 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 worth $11,869,805,000 after purchasing an additional 1,600,062 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 increased its position in shares of Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Boston Scientific by 2.5% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock valued at $1,992,994,000 after purchasing an additional 554,388 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently weighed in on BSX. BTIG Research reissued a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Royal Bank of Canada boosted their target price on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Argus set a $130.00 target price on Boston Scientific in a research report on Tuesday, February 18th. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, Citigroup restated a "buy" rating and set a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Twenty-one investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $116.00.
View Our Latest Research Report on Boston Scientific
Insider Activity
In other news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the stock in a transaction dated 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 now directly owns 178,342 shares of the company's stock, valued at approximately $18,347,824.96. This 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 the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now directly owns 1,535,706 shares in the company, valued at $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 411,970 shares of company stock valued at $42,406,693. Company insiders own 0.50% of the company's stock.
Boston Scientific Stock Up 1.1%
Boston Scientific stock traded up $1.04 during midday trading on Friday, reaching $99.60. The company's stock had a trading volume of 10,330,779 shares, compared to its average volume of 6,574,434. The stock's 50-day simple moving average is $101.03 and its 200-day simple moving average is $98.79. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 52-week low of $71.88 and a 52-week high of $107.17. The stock has a market capitalization of $147.35 billion, a P/E ratio of 79.68, a PEG ratio of 2.79 and a beta of 0.68.
Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm's revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business posted $0.56 earnings per share. On average, sell-side analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.
About Boston Scientific
(
Free Report)
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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