Sequoia Financial Advisors LLC Acquires 8,184 Shares of Boston Scientific Corporation (NYSE:BSX)

Sequoia Financial Advisors LLC increased its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 27.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,455 shares of the medical equipment provider's stock after buying an additional 8,184 shares during the period. Sequoia Financial Advisors LLC's holdings in Boston Scientific were worth $3,879,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BSX. Brighton Jones LLC raised its stake in shares of Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after buying an additional 226 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Boston Scientific by 40.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after buying an additional 21,173 shares during the last quarter. Highview Capital Management LLC DE increased its stake in Boston Scientific by 6.2% in the fourth quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock valued at $2,189,000 after purchasing an additional 1,439 shares in the last quarter. IFP Advisors Inc increased its stake in Boston Scientific by 17.4% in the fourth quarter. IFP Advisors Inc now owns 8,105 shares of the medical equipment provider's stock valued at $724,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Advisor OS LLC increased its stake in Boston Scientific by 10.7% in the fourth quarter. Advisor OS LLC now owns 2,814 shares of the medical equipment provider's stock valued at $251,000 after purchasing an additional 272 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Up 2.1%

Boston Scientific stock opened at $106.83 on Friday. The company has a market cap of $158.05 billion, a P/E ratio of 77.98, a price-to-earnings-growth ratio of 2.70 and a beta of 0.68. Boston Scientific Corporation has a 1-year low of $71.88 and a 1-year high of $107.17. The company has a fifty day simple moving average of $102.74 and a 200 day simple moving average of $99.55. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 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 net margin of 11.58% and a return on equity of 18.67%. The company's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 earnings per share. Research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BSX has been the subject of several recent analyst reports. Leerink Partners initiated coverage on shares of Boston Scientific in a research note on Monday, June 16th. They issued an "outperform" rating and a $118.00 target price for the company. Evercore ISI upped their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Royal Bank Of Canada upped their target price on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. Twenty-two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of "Buy" and a consensus target price of $116.09.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the sale, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now owns 22,235 shares of the company's stock, valued at approximately $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 worth $42,406,693 over the last quarter. 0.50% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.