Park Avenue Securities LLC Boosts Stock Position in Boston Scientific Co. (NYSE:BSX)

Park Avenue Securities LLC grew its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 258.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,082 shares of the medical equipment provider's stock after buying an additional 33,213 shares during the quarter. Park Avenue Securities LLC's holdings in Boston Scientific were worth $4,649,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. TFC Financial Management Inc. increased its position in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 210 shares in the last quarter. Colonial Trust Co SC increased its position in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 260 shares in the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC purchased a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $26,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Boston Scientific in the fourth quarter worth approximately $31,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BSX shares. BTIG Research reaffirmed a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Barclays lifted their price target on Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Robert W. Baird lifted their price target on Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Truist Financial boosted their price objective on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Twenty-one research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Boston Scientific has an average rating of "Buy" and a consensus price target of $116.00.

Insiders Place Their Bets

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares of the company's stock, valued at $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,970 shares of company stock valued at $42,406,693. 0.50% of the stock is owned by company insiders.

Boston Scientific Trading Down 0.8%

NYSE:BSX opened at $102.04 on Monday. The stock has a 50-day simple moving average of $100.49 and a 200-day simple moving average of $98.47. The stock has a market cap of $150.96 billion, a P/E ratio of 81.63, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The firm 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 business's revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 EPS. As a group, analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.

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