Rhumbline Advisers Increases Holdings in Boston Scientific Co. (NYSE:BSX)

Rhumbline Advisers lifted its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,796,444 shares of the medical equipment provider's stock after acquiring an additional 55,006 shares during the period. Rhumbline Advisers owned 0.19% of Boston Scientific worth $282,105,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BSX. Fifth Third Wealth Advisors LLC increased its position in Boston Scientific by 17.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 37,315 shares of the medical equipment provider's stock worth $3,764,000 after purchasing an additional 5,566 shares during the last quarter. IVC Wealth Advisors LLC purchased a new stake in shares of Boston Scientific during the 1st quarter valued at about $212,000. Marion Wealth Management lifted its holdings in shares of Boston Scientific by 5.9% in the 1st quarter. Marion Wealth Management now owns 2,395 shares of the medical equipment provider's stock valued at $242,000 after acquiring an additional 133 shares during the last quarter. Burns J W & Co. Inc. NY purchased a new position in Boston Scientific in the first quarter worth about $202,000. Finally, Rothschild Investment LLC increased its position in shares of Boston Scientific by 4.6% during the 1st quarter. Rothschild Investment LLC now owns 4,593 shares of the medical equipment provider's stock valued at $463,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Transactions at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction 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 approximately $157,379,150.88. This trade represents a 9.67% decrease in their position. The sale 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 the stock in a transaction on Thursday, May 1st. The shares were 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 in the company, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,155 shares of company stock worth $19,556,047 over the last three months. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BSX shares. Evercore ISI upped their target price on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. UBS Group raised their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Truist Financial boosted 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. Piper Sandler upped their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, BTIG Research reaffirmed a "buy" rating and set a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Twenty-one analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $116.00.

Boston Scientific Stock Performance

BSX stock traded down $1.01 during trading on Tuesday, reaching $103.16. The company had a trading volume of 8,429,770 shares, compared to its average volume of 6,420,046. 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 Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The company has a market cap of $152.62 billion, a price-to-earnings ratio of 82.53, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The firm has a 50-day simple moving average of $100.33 and a 200-day simple moving average of $98.14.

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, beating analysts' consensus estimates of $0.67 by $0.08. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 earnings per share. As a group, sell-side analysts expect 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.