Secure Asset Management LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Secure Asset Management LLC acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,146 shares of the medical equipment provider's stock, valued at approximately $418,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BSX. TFC Financial Management Inc. grew its holdings in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 210 shares during the last quarter. Colonial Trust Co SC grew its stake in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 260 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $26,000. Finally, Ameriflex Group Inc. bought a new position in Boston Scientific in the 4th quarter worth approximately $31,000. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction dated 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 owns 36,193 shares of the company's stock, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 411,970 shares of company stock valued at $42,406,693. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BSX shares. Raymond James boosted their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Argus set a $130.00 price target on Boston Scientific in a report on Tuesday, February 18th. UBS Group lifted their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, BTIG Research reiterated a "buy" rating and issued a $124.00 price objective on shares of Boston Scientific in a research report on Wednesday, April 23rd. Twenty-one investment 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.com, Boston Scientific presently has a consensus rating of "Buy" and an average price target of $116.00.

Boston Scientific Stock Down 0.8%

Shares of NYSE BSX traded down $0.79 during trading hours on Friday, hitting $102.04. The company had a trading volume of 9,114,389 shares, compared to its average volume of 6,465,792. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm's 50 day moving average is $100.47 and its 200-day moving average is $98.29. The stock has a market capitalization of $150.96 billion, a P/E ratio of 81.63, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data 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. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. During the same period last year, the firm posted $0.56 earnings per share. The business's revenue was up 20.9% on a year-over-year basis. On average, analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal 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.