Simplicity Wealth LLC Acquires New Holdings in Boston Scientific Co. (NYSE:BSX)

Simplicity Wealth LLC purchased a new position in Boston Scientific Co. (NYSE:BSX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,414 shares of the medical equipment provider's stock, valued at approximately $2,059,000.

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

Boston Scientific Price Performance

BSX stock traded up $1.04 on Friday, hitting $99.60. 10,330,779 shares of the company's stock traded hands, compared to its average volume of 6,562,299. The stock has a market cap of $147.35 billion, a price-to-earnings ratio of 79.68, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average of $101.03 and a 200-day moving average of $98.68.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company's quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 EPS. On average, analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the transaction, the executive vice president now directly owns 18,705 shares of the company's stock, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now owns 36,193 shares of the company's stock, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock valued at $42,406,693 over the last ninety days. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their price target on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and set a $115.00 target price on shares of Boston Scientific in a research note on Wednesday, May 28th. Citigroup restated a "buy" rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Barclays lifted their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, 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 note on Thursday, April 24th. 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 stock currently has an average rating of "Buy" and an average target price of $116.00.

Boston Scientific 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.