Boston Scientific Corporation (NYSE:BSX) Shares Bought by Meeder Advisory Services Inc.

Key Points

• Meeder Advisory Services Inc. increased its stake in Boston Scientific Corporation (BSX) by 9.3% during the first quarter, now holding 34,160 shares valued at $3,446,000.
• Major hedge funds have also significantly increased their positions in Boston Scientific, with Capital World Investors growing its stake by 28.7% and GAMMA Investing LLC by an astonishing 11,720.3% during the same period.
• Wall Street analysts have a consensus rating of "Buy" for Boston Scientific, with a price target of $117.50, signaling potential growth in the stock's value.

Meeder Advisory Services Inc. boosted its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 9.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 34,160 shares of the medical equipment provider's stock after buying an additional 2,895 shares during the period. Meeder Advisory Services Inc.'s holdings in Boston Scientific were worth $3,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. HM Payson & Co. raised its holdings in shares of Boston Scientific by 1.4% in the first quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock worth $694,000 after buying an additional 98 shares during the period. Baldwin Investment Management LLC increased its holdings in Boston Scientific by 1.2% during the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after purchasing an additional 102 shares during the period. Park Square Financial Group LLC increased its holdings in Boston Scientific by 5.2% during the 1st quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock worth $208,000 after purchasing an additional 103 shares during the period. Evergreen Capital Management LLC increased its holdings in Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after purchasing an additional 106 shares during the period. Finally, Forum Financial Management LP increased its holdings in Boston Scientific by 0.8% during the 1st quarter. Forum Financial Management LP now owns 13,448 shares of the medical equipment provider's stock worth $1,357,000 after purchasing an additional 112 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Buying and Selling at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total transaction of $5,348,500.00. Following the sale, the executive vice president owned 178,342 shares of the company's stock, valued at $19,077,243.74. The trade was a 21.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 4,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $106.03, for a total value of $424,120.00. Following the sale, the director directly owned 18,479 shares in the company, valued at $1,959,328.37. This trade represents a 17.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 464,045 shares of company stock worth $48,030,786. Corporate insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

BSX stock traded up $0.22 during trading on Wednesday, hitting $106.69. The company had a trading volume of 7,162,908 shares, compared to its average volume of 7,725,030. Boston Scientific Corporation has a 1-year low of $71.88 and a 1-year high of $108.94. The firm has a 50-day moving average price of $103.56 and a 200-day moving average price of $101.69. The firm has a market cap of $157.84 billion, a PE ratio of 63.51, a price-to-earnings-growth ratio of 2.55 and a beta of 0.68. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BSX shares. BTIG Research reiterated a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. UBS Group boosted their price target on Boston Scientific from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Truist Financial boosted their price target on Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Leerink Partners initiated coverage on Boston Scientific in a report on Monday, June 16th. They issued an "outperform" rating and a $118.00 price target for the company. Two research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target 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.