Strategic Advocates LLC Acquires Shares of 19,893 Boston Scientific Corporation (NYSE:BSX)

Key Points

• Strategic Advocates LLC acquired 19,893 shares of Boston Scientific, valued at approximately $2,007,000, making the stock its 26th biggest position.
• Boston Scientific's stock is gaining attention as many analysts have upgraded their price targets, with UBS Group raising their target from $130.00 to $135.00 and maintaining a "buy" rating.
• The company reported a quarterly earnings beat with $0.75 EPS, exceeding analysts' estimates of $0.72, and a revenue of $5.06 billion, reflecting a 22.8% year-over-year increase.

Strategic Advocates LLC acquired a new stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,893 shares of the medical equipment provider's stock, valued at approximately $2,007,000. Boston Scientific makes up about 0.7% of Strategic Advocates LLC's investment portfolio, making the stock its 26th biggest position.

Other hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new position in shares of Boston Scientific in the 4th quarter worth approximately $25,000. Colonial Trust Co SC grew its position in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 260 shares in the last quarter. Sunbeam Capital Management LLC acquired a new position in shares of Boston Scientific in the 4th quarter worth approximately $26,000. Ameriflex Group Inc. bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $31,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on BSX shares. Leerink Partners started coverage on Boston Scientific in a report on Monday, June 16th. They issued an "outperform" rating and a $118.00 price target on the stock. UBS Group lifted their target price on Boston Scientific from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Truist Financial boosted their price objective on Boston Scientific from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Wells Fargo & Company lifted their target price on Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Leerink Partnrs upgraded Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $117.50.

Boston Scientific Price Performance

NYSE BSX opened at $104.87 on Friday. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $108.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The stock has a market capitalization of $155.15 billion, a PE ratio of 62.42, a P/E/G ratio of 2.57 and a beta of 0.68. The stock has a 50-day simple moving average of $103.61 and a 200 day simple moving average of $101.80.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.89 billion. During the same period in the previous year, the business posted $0.62 earnings per share. Boston Scientific's quarterly revenue was up 22.8% on a year-over-year basis. Research analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief executive officer directly owned 1,476,882 shares of the company's stock, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the completion of the transaction, the executive vice president directly owned 178,342 shares in the company, valued at approximately $18,347,824.96. This represents a 24.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 282,288 shares of company stock worth $29,411,601 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

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.

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