Merit Financial Group LLC Grows Holdings in Boston Scientific Co. (NYSE:BSX)

Merit Financial Group LLC boosted its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 12.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,420 shares of the medical equipment provider's stock after purchasing an additional 12,938 shares during the quarter. Merit Financial Group LLC's holdings in Boston Scientific were worth $12,148,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. TFC Financial Management Inc. lifted its position in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 210 shares during the period. Colonial Trust Co SC lifted its holdings in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new position in Boston Scientific in the 4th quarter valued at $25,000. Sunbeam Capital Management LLC acquired a new position in Boston Scientific in the 4th quarter valued at $26,000. Finally, Ameriflex Group Inc. purchased a new position in Boston Scientific during the 4th quarter worth $31,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the sale, the executive vice president now directly owns 22,235 shares in the company, valued at $2,269,304.10. This trade represents a 43.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 411,970 shares of company stock worth $42,406,693. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BSX. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Wells Fargo & Company lifted their price objective on Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Truist Financial increased their target price on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. BTIG Research restated a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Finally, Evercore ISI raised their target price on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Twenty-one investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $116.00.

Boston Scientific Trading Up 0.2%

BSX stock traded up $0.24 during trading on Thursday, reaching $102.67. 8,075,018 shares of the stock traded hands, compared to its average volume of 6,449,145. The firm has a market capitalization of $151.90 billion, a PE ratio of 82.14, a P/E/G ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The business's 50 day moving average price is $100.44 and its 200-day moving average price is $98.20. Boston Scientific Co. has a 52-week low of $71.88 and a 52-week high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The company's revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

About Boston Scientific

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.