Revolve Wealth Partners LLC bought a new stake in Boston Scientific Co. (NYSE:BSX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,497 shares of the medical equipment provider's stock, valued at approximately $252,000.
A number of other hedge funds also recently made changes to their positions in the business. Wedmont Private Capital grew its stake in Boston Scientific by 6.5% during the first quarter. Wedmont Private Capital now owns 21,555 shares of the medical equipment provider's stock worth $2,019,000 after buying an additional 1,319 shares in the last quarter. UMB Bank n.a. increased its position in shares of Boston Scientific by 76.7% during the first quarter. UMB Bank n.a. now owns 72,075 shares of the medical equipment provider's stock worth $7,271,000 after buying an additional 31,276 shares during the period. Sivia Capital Partners LLC grew its holdings in Boston Scientific by 16.7% during the 1st quarter. Sivia Capital Partners LLC now owns 4,424 shares of the medical equipment provider's stock worth $446,000 after acquiring an additional 632 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of Boston Scientific by 0.6% during the 1st quarter. Gateway Investment Advisers LLC now owns 603,863 shares of the medical equipment provider's stock valued at $60,918,000 after purchasing an additional 3,838 shares in the last quarter. Finally, Elk River Wealth Management LLC acquired a new stake in Boston Scientific during the first quarter worth approximately $202,000. Institutional investors and hedge funds own 89.07% of the company's stock.
Insiders Place Their Bets
In related news, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now owns 1,535,706 shares of the company's stock, valued at approximately $157,379,150.88. This trade represents a 9.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the executive vice president now directly owns 22,235 shares of the company's stock, valued at $2,269,304.10. This represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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 Price Performance
Boston Scientific stock opened at $102.04 on Monday. The company has a market cap of $150.96 billion, a price-to-earnings ratio of 81.63, a PEG 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 firm's fifty day moving average is $100.49 and its 200 day moving average is $98.47. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.
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 (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the company earned $0.56 EPS. Boston Scientific's quarterly revenue was up 20.9% compared to the same quarter last year. Sell-side analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts have commented on BSX shares. Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Truist Financial increased their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Morgan Stanley lifted their target price 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. Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Evercore ISI lifted their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Twenty-one equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $116.00.
View Our Latest Stock Analysis on Boston Scientific
About Boston Scientific
(
Free Report)
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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