Sowell Financial Services LLC Has $4.24 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

Sowell Financial Services LLC lifted its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 108.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,981 shares of the medical equipment provider's stock after buying an additional 21,849 shares during the period. Sowell Financial Services LLC's holdings in Boston Scientific were worth $4,235,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BSX. Norges Bank bought a new position in shares of Boston Scientific during the 4th quarter worth about $1,762,522,000. Capital World Investors boosted its holdings in Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Boston Scientific by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after acquiring an additional 3,344,571 shares during the last quarter. GAMMA Investing LLC raised its position in Boston Scientific by 11,720.3% in the 1st quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider's stock worth $260,057,000 after purchasing an additional 2,556,078 shares during the period. Finally, Axiom Investors LLC DE increased its position in shares of Boston Scientific by 208.2% in the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock valued at $335,167,000 after acquiring an additional 2,535,007 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Up 1.1%

NYSE:BSX opened at $99.60 on Monday. The business's 50-day simple moving average is $101.03 and its 200-day simple moving average is $98.79. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The stock has a market capitalization of $147.35 billion, a PE ratio of 79.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

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, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the company earned $0.56 EPS. Boston Scientific's revenue for the quarter was up 20.9% on a year-over-year basis. Sell-side analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other news, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now owns 1,535,706 shares in the company, valued at $157,379,150.88. This trade represents a 9.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 411,970 shares of company stock worth $42,406,693. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Royal Bank of Canada lifted 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. BTIG Research reiterated a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Finally, Evercore ISI boosted their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Twenty-one equities research 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 has an average rating of "Buy" and a consensus target price of $116.00.

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.

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