Strong Tower Advisory Services Takes $421,000 Position in Boston Scientific Co. (NYSE:BSX)

Strong Tower Advisory Services bought a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,170 shares of the medical equipment provider's stock, valued at approximately $421,000.

A number of other institutional investors also recently modified their holdings of BSX. NBC Securities Inc. boosted its holdings in Boston Scientific by 110,136.4% in the 1st quarter. NBC Securities Inc. now owns 12,126 shares of the medical equipment provider's stock valued at $1,223,000 after purchasing an additional 12,115 shares during the period. Worth Asset Management LLC acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $1,346,000. Talbot Financial LLC bought a new stake in shares of Boston Scientific in the first quarter valued at approximately $204,000. Czech National Bank grew its position in Boston Scientific by 6.0% during the first quarter. Czech National Bank now owns 338,618 shares of the medical equipment provider's stock worth $34,160,000 after buying an additional 19,290 shares in the last quarter. Finally, JGP Wealth Management LLC bought a new position in Boston Scientific during the 1st quarter worth $211,000. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Morgan Stanley boosted their target price on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Barclays raised their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. UBS Group upped their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Wall Street Zen raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Twenty-one equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $116.00.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares in the company, valued at $2,269,304.10. This trade represents a 43.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total value of $17,051,094.67. Following the completion of the sale, the chief executive officer now owns 1,476,882 shares in the company, valued at approximately $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 355,598 shares of company stock valued at $36,607,141. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Down 0.7%

BSX stock traded down $0.69 during mid-day trading on Wednesday, reaching $102.41. 5,470,902 shares of the company traded hands, compared to its average volume of 6,429,504. The firm's 50 day moving average price is $100.38 and its 200 day moving average price is $98.17. 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 cap of $151.51 billion, a price-to-earnings ratio of 81.93, a P/E/G ratio of 2.79 and a beta of 0.68. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the business posted $0.56 EPS. The business's revenue was up 20.9% compared to the same quarter last year. As a group, equities research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

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.