Summit Global Investments Takes $1.93 Million Position in Boston Scientific Co. (NYSE:BSX)

Summit Global Investments acquired a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,077 shares of the medical equipment provider's stock, valued at approximately $1,925,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TFC Financial Management Inc. grew its stake in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 210 shares during the period. Colonial Trust Co SC lifted its position in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 260 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in shares of Boston Scientific during the 4th quarter valued at approximately $25,000. Sunbeam Capital Management LLC purchased a new position in shares of Boston Scientific during the 4th quarter valued at approximately $26,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Boston Scientific during the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their target price on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. UBS Group increased their target price on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Evercore ISI increased their target price on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Citigroup reiterated a "buy" rating and set a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Finally, Royal Bank of Canada raised their price objective on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Twenty-one investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $116.00.

Boston Scientific Trading Up 0.6%

Shares of NYSE BSX traded up $0.58 during trading on Friday, hitting $105.08. 10,524,691 shares of the company were exchanged, compared to its average volume of 6,417,660. The company has a fifty day moving average price of $100.29 and a 200-day moving average price of $97.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a market capitalization of $155.46 billion, a PE ratio of 84.06, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The firm 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% on a year-over-year basis. During the same period last year, the company earned $0.56 EPS. As a group, equities research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the transaction, the executive vice president now directly owns 18,705 shares of the company's stock, valued at $1,955,420.70. The trade was a 19.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now directly owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,155 shares of company stock valued at $19,556,047. 0.50% of the stock is currently owned by insiders.

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.