Boston Scientific Corporation (NYSE:BSX) Shares Purchased by S&CO Inc.

Key Points

• S&CO Inc. increased its stake in Boston Scientific Corporation by 10.3%, owning 177,723 shares worth approximately $17.93 million as of the latest SEC filing.
• Insiders have sold a significant amount of stock recently, with EVP Arthur C. Butcher selling 17,314 shares and EVP John Bradley Sorenson selling 4,572 shares, indicating a 43.78% and 19.64% decrease in their respective ownership levels.
• Boston Scientific reported **$5.06 billion** in revenue for the last quarter, surpassing estimates and reflecting a **22.8% year-over-year increase** in earnings per share (EPS).

S&CO Inc. grew its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 177,723 shares of the medical equipment provider's stock after purchasing an additional 16,584 shares during the quarter. Boston Scientific comprises about 1.2% of S&CO Inc.'s portfolio, making the stock its 21st biggest holding. S&CO Inc.'s holdings in Boston Scientific were worth $17,928,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BSX. HM Payson & Co. boosted its holdings in Boston Scientific by 1.4% in the first quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock worth $694,000 after acquiring an additional 98 shares in the last quarter. Baldwin Investment Management LLC boosted its position in shares of Boston Scientific by 1.2% in the 4th 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 in the last quarter. Park Square Financial Group LLC lifted its holdings in shares of Boston Scientific by 5.2% during the 1st quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock valued at $208,000 after buying an additional 103 shares during the period. Evergreen Capital Management LLC raised its holdings in Boston Scientific by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock valued at $565,000 after acquiring an additional 106 shares during the period. Finally, Forum Financial Management LP grew its position in Boston Scientific by 0.8% in the first quarter. Forum Financial Management LP now owns 13,448 shares of the medical equipment provider's stock worth $1,357,000 after acquiring an additional 112 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Edward J. Ludwig sold 4,000 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $106.03, for a total transaction of $424,120.00. Following the completion of the sale, the director owned 18,479 shares of the company's stock, valued at $1,959,328.37. This represents a 17.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the transaction, the chief executive officer owned 1,476,882 shares in the company, valued at $153,137,894.58. This represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 464,045 shares of company stock worth $48,030,786 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group reissued a "hold" rating on shares of Boston Scientific in a report on Monday, July 21st. Robert W. Baird boosted their price objective on shares of Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Evercore ISI increased their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Wells Fargo & Company raised their price target on shares of Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $117.50.

Boston Scientific Price Performance

Shares of BSX traded up $0.22 during midday trading on Wednesday, hitting $106.69. The company's stock had a trading volume of 7,162,908 shares, compared to its average volume of 7,231,528. The company's fifty day simple moving average is $103.56 and its two-hundred day simple moving average is $101.69. Boston Scientific Corporation has a one year low of $71.88 and a one year high of $108.94. The stock has a market capitalization of $157.84 billion, a price-to-earnings ratio of 63.51, a price-to-earnings-growth ratio of 2.56 and a beta of 0.68. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the company earned $0.62 earnings per share. Boston Scientific's revenue was up 22.8% compared to the same quarter last year. As a group, equities analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

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.