Money Concepts Capital Corp Invests $1.18 Million in Boston Scientific Corporation (NYSE:BSX)

Money Concepts Capital Corp acquired a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,685 shares of the medical equipment provider's stock, valued at approximately $1,179,000.

A number of other large investors have also added to or reduced their stakes in the business. Parnassus Investments LLC increased its holdings in shares of Boston Scientific by 0.7% during the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after acquiring an additional 97 shares in the last quarter. Baldwin Investment Management LLC boosted its holdings in Boston Scientific by 1.2% during the fourth 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 last quarter. Evergreen Capital Management LLC grew its position in Boston Scientific by 1.7% in 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 in the last quarter. PDS Planning Inc boosted its position in Boston Scientific by 1.5% in the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock worth $668,000 after purchasing an additional 113 shares during the last quarter. Finally, Paladin Wealth LLC increased its position in shares of Boston Scientific by 1.6% during the 1st quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider's stock valued at $722,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on BSX. Robert W. Baird boosted their target price on Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Truist Financial lifted their price objective on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Morgan Stanley lifted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a research report on Monday, June 16th. Finally, BTIG Research restated a "buy" rating and issued a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $116.09.

Boston Scientific Stock Down 2.4%

Shares of NYSE:BSX traded down $2.59 during midday trading on Tuesday, reaching $104.82. The company's stock had a trading volume of 8,436,440 shares, compared to its average volume of 6,632,606. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $103.02 and a 200-day moving average of $99.80. The firm has a market capitalization of $155.08 billion, a P/E ratio of 76.51, a PEG ratio of 2.75 and a beta of 0.68. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $108.57.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter in the prior year, the company earned $0.56 earnings per share. The business's revenue was up 20.9% compared to the same quarter last year. On average, research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other news, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president directly owned 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the transaction, the executive vice president directly owned 22,235 shares of the company's stock, valued at approximately $2,269,304.10. This represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock valued at $42,406,693 in the last ninety days. Corporate insiders own 0.50% of the company's stock.

Boston Scientific Company 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.