Neville Rodie & Shaw Inc. Buys New Shares in Boston Scientific Co. (NYSE:BSX)

Neville Rodie & Shaw Inc. bought a new stake in Boston Scientific Co. (NYSE:BSX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 23,205 shares of the medical equipment provider's stock, valued at approximately $2,341,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BSX. Norges Bank acquired a new stake in shares of Boston Scientific in the 4th quarter valued at $1,762,522,000. Capital World Investors lifted its position in 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 worth $2,492,041,000 after buying an additional 6,216,199 shares in the last quarter. Wellington Management Group LLP lifted its position in Boston Scientific by 10.2% during 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 buying an additional 3,344,571 shares in the last quarter. Axiom Investors LLC DE lifted its position in Boston Scientific by 208.2% during the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock worth $335,167,000 after buying an additional 2,535,007 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Boston Scientific by 18.0% during the 4th quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock worth $1,303,681,000 after buying an additional 2,221,790 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the transaction, the executive vice president now directly owns 18,705 shares of the company's stock, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the senior vice president now directly owns 36,193 shares of the company's stock, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,155 shares of company stock valued at $19,556,047 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Up 0.6%

Shares of BSX traded up $0.58 during mid-day trading on Friday, hitting $105.08. 10,524,691 shares of the company's stock were exchanged, compared to its average volume of 6,427,290. The company has a market cap of $155.46 billion, a PE ratio of 84.06, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a 50-day simple moving average of $100.29 and a 200 day simple moving average of $97.88. 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 (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate 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 net margin of 11.07% and a return on equity of 17.80%. The business's quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the business earned $0.56 EPS. On average, research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BSX. Truist Financial upped their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Citigroup reiterated a "buy" rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Stifel Nicolaus lifted their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Finally, Argus set a $130.00 price target on shares of Boston Scientific in a research report on Tuesday, February 18th. Twenty-one research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $116.00.

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.