Sunbeam Capital Management LLC Acquires Shares of 3,090 Boston Scientific Co. (NYSE:BSX)

Sunbeam Capital Management LLC purchased a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,090 shares of the medical equipment provider's stock, valued at approximately $276,000.

Other institutional investors also recently added to or reduced their stakes in the company. TFC Financial Management Inc. increased its position in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after buying an additional 210 shares during the period. Colonial Trust Co SC grew its holdings in Boston Scientific by 1,625.0% during the fourth 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 during the period. Investment Management Corp VA ADV acquired a new position in Boston Scientific during the fourth quarter worth $25,000. Valley National Advisers Inc. grew its holdings in Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock worth $35,000 after acquiring an additional 286 shares during the period. Finally, Fairway Wealth LLC acquired a new position in Boston Scientific during the fourth quarter worth $36,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Trading Up 0.0%

NYSE:BSX traded up $0.03 during mid-day trading on Friday, hitting $104.53. The company had a trading volume of 2,060,655 shares, compared to its average volume of 6,388,890. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The business's fifty day moving average is $100.25 and its two-hundred day moving average is $97.77. 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 cap of $154.65 billion, a P/E ratio of 83.61, a P/E/G ratio of 2.79 and a beta of 0.68.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Raymond James upped their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a report on Thursday, February 6th. Royal Bank of Canada increased their target price on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. UBS Group increased their target price on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Barclays increased their target price on Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Evercore ISI upped their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Twenty-two 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, Boston Scientific presently has an average rating of "Buy" and a consensus price target of $114.87.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president now directly owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction that occurred on 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 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. Insiders have sold a total of 191,155 shares of company stock valued at $19,556,047 over the last 90 days. 0.50% of the stock is owned by company 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.